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.


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Brunei GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.00 6.70 6.70 -8.10 2004 - 2019 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2019-04-11 12:30 AM Q4 1.0% -1.1% 0.3%
2019-07-11 12:30 AM Q1 -0.5% 1.0% 1.1%
2019-10-29 09:00 AM Q2 6.7% -0.5% 1.4%
2020-02-13 01:00 AM Q3 2.0% 6.7% 3.5%
2020-04-11 12:30 AM Q4 2.0% 0.9%
2020-07-11 12:30 AM Q1 5.0%
2020-10-29 12:30 AM Q2 2.5%


News Stream
Brunei Q3 GDP Annual Growth Slows Sharply
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.
2020-02-13
Brunei Q2 GDP Growth Hits Record High
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.
2019-10-23
Brunei Economy Shrinks in Q1
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.
2019-07-11
Brunei Economy Grows for First Time in 3 Quarters in Q4
Brunei's economy advanced 1.0% year-on-year in Q4 2018, after a downwardly revised 1.1% contraction in Q3 and reaching the first yearly expansion in three quarters. Both household consumption (6.7% vs -1.8%) and government spending (7.2% vs -0.1%) rebounded sharply, and fixed investment growth accelerated strongly (45.4% vs 24.2%). Meanwhile, net exports contributed negatively to the GDP growth, as exports grew 15.1% (vs 0.6% in Q3) while imports jumped 45.7% (vs 36.8%). On the expenditure side, the service sector rose far stronger (6.4% vs 0.7% in Q3), supported by wholesale and retail trade (5.2%) and air transport (5.6%). Also, the agriculture, forestry and fishing rose 0.4%, the second straight quarter of increase. In contrast, the industry sector fell (-2.3% vs -2.2%), mainly attributed to the manufacture of LNG and methanol which continued to slip (-6.3%). On a quarterly basis, the economy grew 6 percent in Q4, following a 4.1 percent growth in Q3.
2019-04-11

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.