Brunei GDP Annual Growth Rate2004-2019 Data | 2020-2022 Forecast | Calendar

Brunei's economy advanced 7.1% yoy in Q4 2019, the third straight quarter of expansion, following an upwardly revised 2.1%. This was the highest growth rate on record, boosted by a faster rise in government spending (7.5% vs 6.3% in Q3) and a further rise in household consumption (2% vs 2.1%). At the same time, net foreign demand contributed positively to the GDP, amid a surge in exports. Meanwhile, gross capital formation fell less (-12% vs 19.2%). On the production side, output grew further for both industry 911.4% vs 0.5%), of which oil and gas (6.9% vs 1.8%) and manufacture of LNG and other petroleum, chemical products (28.5% vs -1.7%); and services (0.7% vs 5.1%), on the back of a rebound in agricultural, forestry & fishing (1.8% vs -4.8%), particularly fishery (14.6% vs -16.9%). On a quarterly basis, the economy advanced 10.9% in Q4, after a downwardly revised 0.3% contraction in Q3.

Brunei's economy advanced 2.0% yoy in Q3 2019, the second straight quarter of expansion, following a 6.7% growth in Q2. There were rises in both government spending (0.8% vs -9.6% in Q2) and household consumption (4.7% vs 2.3). At the same time, net foreign demand contributed positively to the GDP as exports fell 0.2% while imports shrank at a faster 9.9%. Meanwhile, gross capital formation slumped (-19.5% vs 16.4%). On the production side, output growth slowed for both industry sector (0.4% vs 7.7%) and services (4.8% vs 5.1%). In addition, agricultural, forestry & fishing contracted (-4.9% vs 0.3%), particularly livestock and poultry (-5.2% vs -0.3%) and fishery (-16.9% vs 0.5%). On a quarterly basis, the economy shrank 0.5% in Q3, after a 2.2% contraction in Q2.

Brunei's economy advanced 6.7 percent year-on-year in the second quarter 2019, reversing from a 0.5 percent 0.5 percent contraction in the previous period.This was the highest annual growth rate on record, boosted by a surge in capital formation (16.4% vs 1% in Q1) and a further rise in household consumption (2.3% vs 7.2%). Also, net foreign demand contributed positively, as exports rebounded strongly )35.1% vs -3.2%) while imports slowed (11.7% vs 20%). Conversely, government spending contracted sharply (-9.6% vs 1%). On the production side, output rebounded for agricultural, forestry & fishing (0.3% vs -3.3%), particularly livestock and poultry (0.3% vs -5.1%) and fishery (0.5% vs -3.8%). Also, the industry sector grew 7.7 percent, after a 2.3 percent fall in Q1. In addition, the services sector production rose faster (5.1% vs 2.8%). On a quarterly basis, the economy shrank 2.2 percent, after a 1.1 percent contraction in the March quarter.