Brunei GDP Annual Growth Rate2004-2021 Data | 2022-2023 Forecast | Calendar

Brunei's economy shrank 1.4% yoy in Q1 of 2021, unchanged from the previous quarter. This was the second straight quarter of contraction in the economy, reflecting the impact of the COVID-19 crisis. There were falls in both government spending (-9.8% vs -5.4% in Q4) and fixed investment (-5.7 vs -1.9%). Also, net exports contributed negatively, as exports dropped by 4.3%, while imports jumped by 21.5%. Meantime, household consumption continued to grow (9.6% vs 5%). On the production side, the industrial sector declined by 3.8%, mainly attributed to the decrease of construction (-16.6%), followed by electricity (-6.9%), other manufacturing (-6.3%), liquefied natural gas and other petroleum and chemical products (-3.8%), and oil and gas mining (-3.1%). Meanwhile, the service sector rebounded (2.2% vs -3%), mainly due to a rise in business services (17.9%), wholesale and retail trade (9.6%). On a quarterly basis, the economy contracted 5.4%, reversing from a 9% growth in Q4 2020.

Brunei's economy shrank 1.4% yoy in Q4 of 2020, after a downwardly revised 0.4% growth in Q3. This was the first pace of contraction since Q1 2019, reflecting the impact of the COVID-19 crisis. There were falls in both government spending (-5.4% vs 8.4% in Q3) and fixed investment (-1.9% vs 9.5%). Also, net exports contributed negatively, as exports (-10.2%) shrank faster than imports (-8.2%). Meantime, household consumption growth slowed sharply (5% vs 14.1%). On the production side, the industry sector shrank 0.8% after gaining 0.8% in Q3, amid declines in oil and gas mining, and manufacture of wearing apparel. Meanwhile, the service sector fell faster (-3% vs -0.4%), dragged down by falls in the land and air transport as well as other transport. By contrast, output of the agriculture rose stronger (27.5% vs 11.4%). On a quarterly basis, the economy advanced 9%, after a revised 3.2% drop in Q3. For full 2020, the economy grew 1.2%, following a 3.9% expansion in 2019.

Brunei's economy advanced 0.5% yoy in Q3 of 2020, the least since the first quarter last year, after an upwardly revised 3.0% growth in Q2. Household consumption growth accelerated (14.1% vs 6.3% in Q2), amid a faster decline in government spending (-8.4% vs -5.1%). Also, net exports contributed negatively to the GDP growth, as exports expanded by 0.3% while imports rose at a faster 26.1%. Meanwhile, fixed investment rebounded sharply (9.6% vs -27.8%). On the production side, the industry sector grew much less (0.7% vs 6.7%), due to a softer rise in manufacture of liquefied natural gas and other petroleum, and chemical products; while production of oil and gas mining contraction. Meanwhile, the service sector shrank further (-0.3% vs -3.6%), dragged down by contraction in land and air transport. By contrast, output of agriculture, forestry and fishing sector continued to expand (15.8% vs 9.7%). On a quarterly basis, the economy shrank 2.7%, after a revised 2.0% contraction in Q2.

Brunei's economy grew 2.8% yoy in Q2 of 2020, after a 2.4% expansion in the prior period. Household consumption growth accelerated (2.7% vs 2.1% in Q1), amid a softer decrease in government spending (-5.1% vs -16.4%). Meanwhile, net exports contributed positively to the GDP growth, as exports advanced (16.5% vs 29.1%) while imports fell (-16.4% vs -5.3%). Meantime, fixed investment continued to drop (-27.8% vs -17.3%). On the expenditure side, the industry sector expanded more (6.6% vs 5.3%), due to a rise in manufacture of liquefied natural gas and other petroleum and chemical products; oil and gas and manufacture of food and beverage. Meanwhile, the service sector shrank (-3.6% vs -2.5%), dragged down by contraction in land and air transport, hotels, restaurants. Also, output of agriculture, forestry and fishing sector contracted (-4.4% vs 5%), led by a drop in production of forestry and fishery. On a quarterly basis, the economy shrank 2.1%, after a 5.2% contraction in Q1.