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.

GDP growth eased to 6.0% year on year in Q2, down from 6.8% in the first quarter, as slower private consumption growth and a double-digit contraction in fixed investment weighed on the economy. On the other hand, government spending rebounded and exports of goods and services surged, the latter bolstered by faster growth in gas and LNG production alongside a rebound in oil output. Stronger energy output was likely linked to the new Salman oilfield. Turning to Q3, available data points to a deceleration from Q2. There were sharp slowdowns in year-on-year gas and LNG production growth in July compared to the previous quarter; the energy sector accounts for over half of GDP. Nevertheless, muted price pressures in July–August and ongoing investment in the Hengyi petrochemicals complex and Muara Port likely supported domestic demand.

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 This means you avoid the risk of relying on out of date, biased or outlier forecasts.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.