Brunei’s Gross Domestic Product Grew 2.8% in 2Q 2020

Gross domestic product (GDP) for Brunei Darussalam (Brunei) at constant prices continued on its growth trajectory in 2020, with the second quarter of 2020 (2Q 2020) recording a 2.8% year-on-year (YoY) increase in GDP, according to data from Brunei’s Department of Economic Planning and Statistics (DEPS). This follows GDP growth of 2.4% YoY in the first quarter of 2020.

The DEPS data showed an 8.1% YoY increase in the Non-Oil and Gas sector, a key contributor to Brunei’s GDP (53.2% of GDP in 2Q 2020), driven primarily by downstream activities, including the production of petroleum and chemical products with a gross value-added of BND 294.9 million.

Analysis of the three key...