Current Account in Brunei

Brunei Current Account | Economic News & Forecasts

Brunei - Current Account

In the second quarter, the economy grew at the fastest pace since current records began in 2013, propelled by a strong recovery in the oil and gas sector. Data for the third quarter, however, is limited and currently paints a mixed picture. The external sector’s contribution to growth seemed to strengthen in the quarter: The merchandise trade surplus widened in July–August compared to the second quarter, even as merchandise exports fell notably in August on lower outbound shipments of oil and natural gas. Meanwhile, turning to the fourth quarter, the oil sector should benefit from the coming online of the new Hengyi Petrochemical refinery in early November. Moreover, OPEC+ production cuts could boost demand for Bruneian oil, as the country is not a member of the organization.

Brunei - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)20.9  30.7  16.7  12.9  16.4  

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Note: Current account balance as % of GDP.
Source: IMF

Brunei Facts

Exchange Rate1.340.0 %Jan 01

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