Current Account in Brunei
Brunei - Current AccountFinal figures confirmed that while the economic contraction softened in the final quarter of 2021 (Q4: -1.4%; Q3: -1.8%), GDP for 2021 as a whole fell 1.6%—the sharpest contraction in five years. Q4’s result came amid the ongoing impact of the pandemic: a sluggish performance of oil and gas production, as well as a marked slowdown in exports and government spending. Turning to this year, robust demand from key trading partners and higher commodity prices led annual exports growth to accelerate at the outset of 2022. Moreover, last year’s discovery of 42 million barrels-worth of oil is expected to boost production and buttress exports, especially as Western countries search for alternatives to Russian oil. Business sentiment, similarly, remained upbeat in January–April due to expectations of improved demand as the country recovers from its most recent wave of Covid-19 cases.
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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