Brunei’s second quarter GDP dips 4.4 per cent y-o-y

The Billionth Barrel Monument - a symbol of achievement in Brunei’s oil production. - BB

BANDAR SERI BEGAWAN (Borneo Bulletin/Asia News Network): A decrease in crude oil and natural gas production led to a fall in the country’s gross domestic product (GDP) in the second quarter (Q2) of the year, said the Department of Economic Planning and Statistics.

The oil and gas sector decreased by 9.2 per cent while there was a one per cent growth in the non-oil and gas sector, according to the department. This resulted in a negative growth of the country’s GDP by 4.4 per cent in Q2, compared to the previous year.