Brunei's economy shrank 1.4% yoy in Q4 of 2022, after a downwardly revised 1.8% fall in Q3, pointing to the fifth straight quarter of contraction amid the disruption caused by COVID-19. Fixed investment fell at a softer rate(-18.8% vs -29.5% in Q3), while household consumption was sluggish (1.2% vs 13.3%), and government spending moderated (6.5% vs 8.2%). Meantime, net exports contributed positively, as exports rose 17.2% (vs 4.5% in Q3) while import went up at a softer 12.8% (vs 28.3%). On the production side, the output of the industrial sector dropped at a slower pace, due to a fall in oil and gas mining (-3.8%), manufacturing LNG and petroleum (-9.9%), construction (-8.9%), and utilities (-1.7%). Meanwhile, services activity rose for the 4th straight quarter (2.1% vs 1.8%), amid a further fall in wholesale and retail trade (-4.2% vs -4.3%). Meantime, the output of agriculture slowed sharply (6.1% vs 26.4%). On a quarterly basis, the economy grew 9.5%, following a 3.2% fall in Q3. source: Department of Economic Planning and Development, Brunei
GDP Annual Growth Rate in Brunei averaged 0.34 percent from 2004 until 2021, reaching an all time high of 7.10 percent in the fourth quarter of 2019 and a record low of -8.10 percent in the fourth quarter of 2013. This page provides - Brunei GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Brunei GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2022.
GDP Annual Growth Rate in Brunei is expected to be 3.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Brunei GDP Annual Growth Rate is projected to trend around 3.00 percent in 2023, according to our econometric models.