Brunei’s Economy Posted Positive Growth In Seven Quarters

BANDAR SERI BEGAWAN– Brunei’s economy increased by 0.9 percent year-on-year, in the third quarter of 2022, rebounding from the past six quarters’ negative growth since 2021, official data showed, yesterday.

A growth of 4.6 percent in non-oil and gas sector, led to the bounceback of the country’s gross domestic product (GDP) in the quarter, which was valued at 4.6 billion Brunei dollars (3.5 billion U.S. dollars) at constant prices.

The oil and gas sector declined by 2.7 percent, due to the decrease in oil and gas mining activities, and the manufacturing of liquefied natural gas.

In the quarter, the agriculture, forestry and fishery sector, and the industrial sector, declined by 6.3 percent and 1.7 percent, respectively.

The services sector increased by 5.1 percent. Positive growths were recorded in air transport by 249.6 percent, followed by land transport (35.9 percent) and restaurants (31.4 percent). (1 Brunei dollar equals 0.76 U.S. dollars)