Brunei Economy

Economic growth

The economy recorded an average annual decrease of 0.3% in the decade to 2022. To read more about GDP growth in Brunei, go to our dedicated page.

Fiscal policy

Brunei's fiscal deficit averaged 3.9% of GDP in the decade to 2022. Find out more on our dedicated page.

Unemployment

The unemployment rate averaged 7.6% in the decade to 2022. For more information on Brunei's unemployment click here.

Inflation

Inflation averaged 0.6% in the decade to 2022. Go to our Brunei inflation page for extra insight.

Monetary Policy

Brunei's monetary policy rate ended 2022 at 5.50%, on the same level as a decade earlier. See our Brunei monetary policy page for additional details.

Exchange Rate

From end-2012 to end-2022 the Brunei dollar weakened by 7.7% vs the U.S. dollar. For more info on the Brunei dollar, click here.

Though remaining among the fastest-growing countries in ASEAN, the economy lost some steam in Q2 amid subdued private consumption growth and weaker fixed investment. Looking at available data, economic growth likely slowed further in annual terms in Q3. In July–August, year-on-year growth in natural gas production dropped nearly threefold, and LNG production growth slowed compared to the previous quarter, boding ill for the hydrocarbons sector—which accounts for over half of GDP. That said, muted price pressures in Q3 likely supported private consumption. In other news, in mid-October, Hengyi Industries—in which the government has a minority stake—launched a solar project on the island of Pulau Muara Besar, the first phase of which is expected to be completed by April 2025; the project bodes well for investment, the green transition and energy security.

Projections out to 2034.

36 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 5 expert analysts.

Want to get insight on the economic outlook for Brunei in the coming years? FocusEconomics collects projections out to 2034 on 36 economic indicators for Brunei from a panel of 5 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Brunei economy. To download a sample report on the Brunei's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.