Imports in Brunei

Brunei Imports | Economic News & Forecasts

Brunei - Imports

The economy shrank 2.1% in annual terms in Q2, following a softer 0.8% contraction in the first quarter. The downturn came on the back of a marked drop in the hydrocarbon sector, as crude oil production fell compared to Q2 2020 due to a planned refinery shutdown for maintenance purposes. On the expenditure side, a downbeat external sector amid lower hydrocarbon exports was behind the reading. Moving to the third quarter, activity was likely weighed down by rising Covid-19 infections prompting tighter containment measures, which were recently extended to end-October. Meanwhile, in mid-September an IMF mission encouraged Brunei to diversify its economy along the lines set out in the economic blueprint approved earlier this year, while the country recently ratified the Regional Comprehensive Economic Partnership (RCEP) agreement, boding well for trade ahead.

Brunei - Imports Data

2015   2016   2017   2018   2019  
Imports (USD billion)3.2  2.7  3.1  4.2  5.1  

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Brunei Facts

Value Change Date
Exchange Rate1.340.0 %Jan 01

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