Brunei GDP Annual Growth Rate
The Gross Domestic Product (GDP) in Brunei contracted 3.30 percent in the first quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in Brunei averaged 0.57 Percent from 2004 until 2014, reaching an all time high of 6.60 Percent in the second quarter of 2010 and a record low of -5.60 Percent in the first quarter of 2008. GDP Annual Growth Rate in Brunei is reported by the Department of Economic Planning and Development, Brunei.
||2004 - 2014
Brunei is the fourth-largest oil producer in Southeast Asia. Oil accounts for around 62 percent of GDP and is the source of 90 percent of government revenues. Yet, in recent years, oil production has declined and, as a result, growth has slowed down. In order to strengthen Brunei’s long-term prospects, the government has been trying to diversify the economy by using oil revenues to invest in non-oil industries like Islamic banking and by attracting foreign direct investments. Focus on eco-tourism has also been high, given that 70 percent of the country’ is covered by tropical forest. This page provides - Brunei GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.