GDP in Brunei

Brunei GDP | Economic News & Forecasts

Brunei - GDP

In early March, the government presented the budget for the 2016-2017 financial year, the main goals of which are to keep public finances under control and to diversify the economy away from its dependence on hydrocarbons. To this end, the budget provides for a spending cut of more than 5%, which should cause the fiscal deficit to narrow. The reduced resources are mainly focused on expanding the production base—by sustaining the non-oil private sector, especially the SMEs—and on streamlining business regulations. Last year, Brunei had to cope with an environment of prolonged low oil prices, which led GDP to fall significantly in the second and third quarters and exports to plummet by more than 20% in 2016 as a whole.

Brunei - GDP Data

2011  2012  2013  2014  2015  
Economic Growth (GDP, annual variation in %)3.7  0.9  -2.1  -2.3  -     

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Note: Annual variation of gross domestic product (GDP) in %.
Source: World Bank.

Brunei Facts

Exchange Rate1.39-0.38 %Mar 27

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