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Brunei's economy danced its way to a 6.7% growth in Q2 2019, the biggest bounce since 2016! With crude oil production skyrocketing to 115,000 barrels a day, it’s like a rock concert for the economy! Even the non-oil sector joined the party, growing by 4.1%. But not all was rosy; vegetable production took a dip of 7.3%. Talk about a mixed bag of economic vibes!

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Biz Brunei Article

Published on 22nd October 2019

Brunei's economy experienced a significant rebound in the second quarter of 2019, achieving a 6.7% growth, the largest since 2016. This was primarily driven by increased production in crude oil and gas, with GDP reaching $4.741 billion. Crude oil production rose to 115,000 barrels/day, while LNG production increased to...

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Brunei's economy experienced a significant rebound in the second quarter of 2019, achieving a 6.7% growth, the largest since 2016. This was primarily driven by increased production in crude oil and gas, with GDP reaching $4.741 billion. Crude oil production rose to 115,000 barrels/day, while LNG production increased to 984,284 MMBtu/day. The oil and gas sector, making up 60.5% of the economy, grew by 8.7%, offsetting price declines. Additionally, the non-oil sector saw a 4.1% rise, highlighted by a 21.8% boost in finance. Other growth areas included electricity, health, air transport, and trade services. Despite these gains, vegetable and fruit production fell by 7.3%.

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Biz Brunei

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Sharing the stories of Brunei businesses with the world.

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