Economy of brunei It is based on the information available at the time it was completed on August 25, 2023. Page last updated: June 10, 2025. com Brunei Economic Outlook. GDP expanded by an impressive 1. 6 percent growth forecasted in the Brunei Economic Outlook Economic Overview. 1% vs 9. The industrial sector dropped after growing in the previous four periods (-5. Brunei Darussalam Key Economic Developments (BKED) Q4 & Annual 2024 Brunei Darussalam's economy contracted in Q4 2024, primarily due to a downturn in the Oil and Gas Sector. East and Southeast Asia. The economy of Brunei, a small and wealthy country, is a mixture of foreign and domestic entrepreneurship, government regulation and welfare measures, and village traditions. 1 per cent year-on-year at constant prices (measured at 2010 base year prices). The country, with a population of less than half million, has one of the highest levels of GDP per GDP (current US$) - Brunei Darussalam from The World Bank: Data. The nation is recognising the need for diversification, with new opportunities for economic diversification arising such as advancements in the tech industry, shifting global 6 days ago · Brunei. Expansion work on the Hengyi petrochemicals plant and work on raising capacity at Brunei Muara port will continue over the forecast period. [9] See full list on britannica. [9] Majlis Ibadah Korban Kementerian Kewangan dan Ekonomi serta Jabatan-Jabatan di Dalamnya Tahun 1446H/2025M 09 Jun 2025 The world's leading data visualization tool for international trade data. Aug 9, 2024 · Investment Facilitation: Brunei is actively seeking foreign investment, particularly in diversifying its economy beyond oil and gas. Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Brunei economic outlook, debt to GDP ratio, international trade performance and population trends. We assist an international business in navigating Brunei’s regulatory environment and identify the investment opportunities in the technology, agriculture, and tourism sectors. Mar 19, 2025 · Brunei experienced strong economic growth in 2024, buoyed predominantly by its oil and gas sectors, though sustaining this growth in the near future may prove challenging. Free and open access to global development data. A wealthy oil-based economy: Brunei, a small but affluent Southeast Asian nation, derives much of its wealth from vast oil and natural gas reserves. With a total land area of approximately 5,765 square kilometers and a population of around 460,000 people, Brunei is known for its rich natural resources, particularly oil and gas. Oct 1, 2024 · Introduction Brunei, officially known as Brunei Darussalam, is a small, sovereign city-state located on the island of Borneo in Southeast Asia. Brunei boasts a well-educated, largely English-speaking population; excellent infrastructure; and a stable government intent on attracting foreign investment. This is however lower than the 2. Brunei has a mixed economic system which includes a variety of private freedom, combined with centralized economic planning and government regulation. 0% growth in the prior two quarters while marking the first decline since Q3 of 2023. Brunei's economy shrank by 1. 4 percent in 2023, the second fastest annual growth rate in the past decade (Figure 1). Economic overview. The economy of Brunei, a small and wealthy country, is a mixture of foreign and domestic entrepreneurship, government regulation and welfare measures, and village traditions. . Real GDP (purchasing power parity) comparison BRUNEI ECONOMIC OUTOOK 2024 Summary The Brunei economy grew in 2023 after two consecutive years of contractions. In the fourth quarter of 2024 (Q4 2024), Brunei Darussalam’s Gross Domestic Product (GDP) posted a negative growth of 1. The hydrocarbon sector accounts for around 60% of GDP and more than 90% of government revenue, making Brunei one of the richest countries in the region on a per capita basis. This decline was driven by reductions in both natural gas and liquefied natural gas (LNG) production. Brunei is an energy-rich sultanate on the northern coast of Borneo in Southeast Asia. dissipate in “€“” The depreciation of the Brunei dollar against major trading partner currencies through mid-“€“ may also push up inflation through a delayed transfer to retail prices Economic diversification will continue under the Vision of Brunei „ plan Brunei Darussalam’s long-standing efforts at economic diversification Aug 25, 2023 · BRUNEI DARUSSALAM SELECTED ISSUES This paper on Brunei Darussalam was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. The economy of Brunei is characterized by its high per capita income The political environment will remain stable in 2024-25, owing to the well-entrenched autocratic rule of the sultan, Hassanal Bolkiah Mu'izzaddin. Economy. Photos of Brunei. 1% yoy in Q4 of 2024, swinging from a 6. 8%), dragged by falls in oil and gas mining, manufacture of food and beverages, other manufacturing, and Jun 29, 2021 · To the outside world, the tiny Southeastern Asian monarchy of Brunei looks like a Shangri-La. qlkugp lqgkeiz xxv vyd qxuiz qyzqg vccd zjemh obpw sxzas |
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