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The non-oil and gas sector recorded an increase of 3.1 per cent, which contributed 47.3 per cent to the total economy in 2022. Meanwhile the oil and gas sector decreased by 6.2 per cent which contributed to 52.7 per cent. The decline of the sector has caused the country’s economy to grow at a negative rate by 1.6 per cent. The increase in the non-oil and gas sector was driven by the rise in subsectors such as manufacturing of petroleum and chemical products, wholesale and retail trade, and air transport. Meanwhile, the decline in the oil and gas sector was attributed to the oil and gas mining, and the manufacturing of liquefied natural gas (LNG) subsectors. In the fourth quarter (Q4) of 2022, the gross domestic product (GDP) by economic activity was mainly contributed by the industry sector which was about 64.2 per cent. This was followed by the services sector at 34.7 per cent and agriculture, forestry, and fishery sector at 1.1 per cent. ![](https://media.everythingbrunei.com/public/Sn2UqsODOMWUMNlSF5BXv-uFa6SgxMtpl8A_NCcuwQa.jpeg) At the current price, the Sultanate’s GDP was valued at BND5.7 billion compared to BND5.2 billion in Q4 of 2021. The oil and gas sector accounted for 50.7 per cent, meanwhile, the non-oil and gas sector, which includes downstream activities such as the manufacture of petroleum and chemical products, contributed 49.3 per cent. Meanwhile, GDP growth in Q4 of 2022, at constant prices, recorded a decline of 1.6 per cent year-on-year. This was due to a decrease in the oil and gas sector by 7.5 per cent, while the non-oil and gas sector increased by 4.3 per cent. The decline in the oil and gas sector was due to a decrease in the production of crude oil, natural gas and LNG, as a result of maintenance and rejuvenation activities. The non-oil and gas sector remained positive with an increase in the subsectors attributed to manufacturing of petroleum and chemical products, wholesale and retail trade, and finance. An increase in the manufacturing of petroleum and chemical products subsector by 14.2 per cent was due to the petroleum production increase particularly the RON 90, and also the production of new chemical product, specifically urea fertiliser. The increase in the wholesale and retail trade subsector by 9.0 per cent was due to the rise in domestic demand particularly improved retail sales performance following the lifting of pandemic restrictions. Meanwhile, the increase in the finance subsector was in line with an increase in the income from financial and banking activities. By expenditure approach, a decrease in GDP growth in Q4 of 2022 was due to a decrease in the gross capital formation particularly private investment by 0.9 per cent, and government final consumption expenditure by 1.0 per cent. However, the decrease was moderated by an increase in the exports of goods and services by 8.4 per cent, mainly the export of mineral fuel goods and household final consumption expenditure by 18.1 per cent. GDP is a measure of the total value of goods and services produced in a particular period after deducting the cost of goods and services used up in the process of production. The full report is available from the Department of Economic Planning and Statistic official website.

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Brunei's GDP Contracts Despite Non-Oil Growth

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