Brunei BIP Veränderung zum Vorjahr

Brunei's economy advanced 6.8% year-on-year in Q1 of 2024, the same pace as in the previous quarter. Still, the latest reading remained the strongest growth rate since Q4 of 2019, boosted by activities related to oil & gas (8.9%) and non-oil and gas (5.0%). Among sectors, the output of industrial one jumped (11.1% vs 10.1% in Q4) while services slowed 1(.4% vs 2.6% ). Meantime, agricultural production fell 0.8%, much softer than a 22.4% plunge in the prior quarter. On the expenditure side, household consumption accelerated (7.5% vs 4.8%) amid an upswing in fixed investment (9.1% vs -10.4%). At the same time, both exports (14.5% vs -1.8%) and imports (16.4% vs -8.3%) grew after falling previously. By contrast, government spending contracted by 5.1% after expanding by 2.6% in the prior period. Quarterly, the GDP shrank by 5.0%, a sharp reversal from a 12.2% surge in Q4. In 2023, Brunei's GDP expanded by 1.4%.