Brunei's economy grew by 0.9% yoy in Q3 of 2022, reversing from a 4.4% contraction in Q2 and advancing for the first time since Q3 of 2020. Both government spending (0.4% vs -6.4 in Q2) and fixed investment (2.1% vs -3.9%) rebounded, amid robust household consumption (12.2% vs 3.7%). Also, net exports contributed positively, with sales bouncing back strongly (14.3% vs -7.9% in Q2) while imports eased noticeably (3.3% vs 8.0%). On the production side, services activity rebounded sharply (5.1% vs -2.8%), boosted by an upturn in wholesale and retail trade, land transport, air transport, financials, hotels, restaurants, and other private services. At the same time, output of the industry fell much softer (-1.7% vs -5.3), with contraction slowing sharply in both oil and gas mining and manufacturing LNG, petroleum, and chemicals. Meanwhile, the output of agriculture remained weak (-6.3% vs -6.7%). On a quarterly basis, the economy advanced 2.3% in Q3, after a 2.2% contraction in Q2. source: Department of Economic Planning and Development, Brunei
GDP Annual Growth Rate in Brunei averaged 0.22 percent from 2004 until 2022, 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 January of 2023.
GDP Annual Growth Rate in Brunei is expected to be 5.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.