Brunei's economy posts positive growth in seven quarters

BANDAR SERI BEGAWAN, Jan 15 (Xinhua): Brunei's economy increased by 0.9 per cent year-on-year in the third quarter of 2022, rebounding from the past six quarters' negative growth since 2021, official data showed on Saturday.

A growth of 4.6 percent in non-oil and gas sector led to the bounceback of the country's gross domestic product (GDP) in the quarter, which was valued at 4.6 billion Brunei dollars (US$3.5 billion) at constant prices.

The oil and gas sector declined by 2.7 per cent due to the decrease in oil and gas mining activities and the manufacturing of liquefied natural gas.

In the quarter, the agriculture, forestry and fishery sector and the industrial sector declined by 6.3 per cent and 1.7 per cent, respectively.

The services sector increased by 5.1 percent. Positive growths were recorded in air transport by 249.6 per cent, followed by land transport (35.9 per cent) and restaurants (31.4 per cent). (1 Brunei dollar equals 0.76 US dollars). - Xinhua