Brunei's Economy Records 0.8% Growth in Q1
According to the Department of Economic Planning and Statistics at the Ministry of Finance and Economy, an increase in the non-oil and gas sector by 6.2 percent led to the rise in the Southeast Asian country's economy in the quarter.
The increase was driven by the rise in subsectors such as air transport by 285.1 percent, followed by finance (71.7 percent) and other transport services (33.1 percent).
Meanwhile, the oil and gas sector fell by 5 percent, due to a decrease in crude oil, natural gas and liquefied natural gas production following the impact of the COVID-19 pandemic that caused delays in exploration, development, production and rejuvenation work.
Valued at current prices, Brunei's GDP in Q1 2023 was 4.9 billion Brunei dollars (3.6 billion US dollars).
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