Brunei's economy contracted 0.5 percent year-on-year in the first quarter of 2019, following a 1.0 percent growth in the previous period. Gross capital formation growth slowed (1.0 percent vs 45.4 percent in Q4) while both household consumption (4.9 percent vs 6.7 percent) and government spending (1.0 percent vs 7.2 percent) expanded at a softer pace. Regarding net foreign demand, exports fell 3.2 percent (from 15.1 percent in Q4) while imports advanced 20.0 percent (from 45.7 percent in Q4). On the production side, output declined in agricultural, forestry & fishing (-3.3 percent vs 0.4 percent), particularly vegetables, fruits & other agriculture (-17.4 percent vs 0.5 percent) while the industry sector shrank 2.3 percent, the same pace as in the previous quarter. Additionally, the services sector production advanced at a softer pace (2.8 percent vs 6.4 percent). On a quarterly basis, the economy shrank 1.1 percent, following a 6.0 percent growth in the last quarter of 2018. GDP Annual Growth Rate in Brunei averaged 0.16 percent from 2004 until 2019, reaching an all time high of 6.60 percent in the second quarter of 2010 and a record low of -8.10 percent in the fourth quarter of 2013.

GDP Annual Growth Rate in Brunei is expected to be 1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Brunei to stand at 1.30 in 12 months time. In the long-term, the Brunei GDP Annual Growth Rate is projected to trend around 2.30 percent in 2020, according to our econometric models.

Brunei GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-11-06 04:00 AM GDP Growth Rate YoY Q2 -2.8% 2.6% 2.2%
2019-01-24 10:00 AM GDP Growth Rate YoY Q3 -1.2% -2.8% 2.5%
2019-04-11 12:30 AM GDP Growth Rate YoY Q4 1.0% -1.1% 0.3%
2019-07-11 12:30 AM GDP Growth Rate YoY Q1 -0.5% 1.0% 1.1%
2019-11-06 04:00 AM GDP Growth Rate YoY Q2 -0.5% 1.4%


Brunei GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate -0.50 1.00 6.60 -8.10 percent [+]
GDP 13.57 12.13 19.05 0.11 USD Billion [+]
GDP per capita 31436.90 31752.80 66019.90 31436.90 USD [+]
GDP per capita PPP 71802.50 72523.80 86445.70 71802.50 USD [+]
Gross Fixed Capital Formation 1447.90 1990.80 2574.80 1080.60 BND Million [+]
GDP Constant Prices 4729.70 4783.30 5078.00 4336.90 BND Million [+]
GDP From Agriculture 35.80 34.60 42.00 34.30 BND Million [+]
GDP From Construction 93.00 105.20 175.10 77.30 BND Million [+]
GDP From Manufacturing 795.80 665.10 804.00 595.40 BND Million [+]
GDP From Mining 2051.90 2032.90 2400.50 1868.50 BND Million [+]
GDP From Public Administration 519.60 635.30 641.00 471.40 BND Million [+]
GDP From Services 1803.70 1923.60 1923.60 1636.70 BND Million [+]
GDP From Transport 60.90 116.80 314.70 55.50 BND Million [+]
GDP From Utilities 38.90 52.80 52.80 34.40 BND Million [+]


Brunei GDP Annual Growth Rate

Brunei is the fourth-largest oil producer in Southeast Asia. Oil accounts for around 62 percent of GDP and is the source of 90 percent of government revenues. Yet, in recent years, oil production has declined and, as a result, growth has slowed down. In order to strengthen Brunei’s long-term prospects, the government has been trying to diversify the economy by using oil revenues to invest in non-oil industries like Islamic banking and by attracting foreign direct investments. Focus on eco-tourism has also been high, given that 70 percent of the country’ is covered by tropical forest. This page provides - Brunei GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Brunei GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on October of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-0.50 1.00 6.60 -8.10 2004 - 2019 percent Quarterly




Country Last Previous
China 6.00 Sep/19
Indonesia 5.05 Jun/19
India 5.00 Jun/19
United States 2.30 Jun/19
South Korea 2.00 Jun/19
Spain 2.00 Jun/19
Netherlands 1.80 Jun/19
Canada 1.60 Jun/19
Australia 1.40 Jun/19
France 1.40 Jun/19
United Kingdom 1.30 Jun/19
Euro Area 1.20 Jun/19
Brazil 1.00 Jun/19
Japan 1.00 Jun/19
Russia 0.90 Jun/19
South Africa 0.90 Jun/19
Argentina 0.60 Jun/19
Saudi Arabia 0.50 Jun/19
Germany 0.40 Jun/19
Switzerland 0.20 Jun/19
Singapore 0.10 Sep/19
Italy -0.10 Jun/19
Mexico -0.80 Jun/19
Turkey -1.50 Jun/19


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