Current Account in Brunei
Brunei - Current AccountThe economy contracted at a sharper year-on-year pace in Q2, dragged down by a considerable decline in the hydrocarbon sector stemming from a planned refinery shutdown. Conditions likely remained downbeat in the third quarter, as restrictions were adopted alongside a rise in Covid-19 infections. However, July’s data shows soaring merchandise exports compared to last year on the back of surging sales of mineral fuels. Moving into Q4, an expected easing of restrictions amid falling new Covid-19 cases and notable progress on the vaccination front bode well for activity. On the external front, the Regional Comprehensive Economic Partnership (RCEP) agreement, set to come into force in January 2022, was recently ratified by Australia and New Zealand, which should further strengthen its impact on trade ahead.
Brunei - Current Account Data
|Current Account (% of GDP)||16.7||12.9||16.4||7.9||-|
5 years of economic forecasts for more than 30 economic indicators.
|Exchange Rate||1.34||0.0 %||Jan 01|
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