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.
GDP Annual Growth Rate in Brunei averaged 0.29 percent from 2004 until 2019, reaching an all time high of 6.70 percent in the second 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.
GDP Annual Growth Rate in Brunei is expected to be 2.50 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 4.50 in 12 months time. In the long-term, the Brunei GDP Annual Growth Rate is projected to trend around 3.50 percent in 2021, according to our econometric models.