Brunei economy growth rebounds to 6.7 pc in Q2

21 October, 2019 12:00 AM printer

BANDAR SERI BEGAWAN: Brunei's Gross Domestic Product (GDP) posted a growth of 6.7 percent year-on-year to 4626.3 million Brunei dollars (3390.7 million U.S. dollars) at constant prices in the second quarter of 2019, the latest figures showed on Saturday.

According to the country's Department of Economic Planning and Development (DEPD) at the Ministry of Finance and Economy, the latest data showed a strong rebound in Q2 compared to the negative GDP growth in Q1 of minus 0.5 percent at constant prices year-on-year, reports Xinhua.

In Q2, the country's oil and gas sector contributed about 60.5 percent to the economy. The nation's oil and gas sector expanded by 8.7 percent at constant prices year-on-year due to the increase of manufacture of liquefied natural gas and methanol by 10.5 percent and oil and gas mining by 8.0 percent.

During this period, the non-oil and gas sector continued to increase by 4.1 percent in Q2 after an increase of 2.5 percent in Q1. The sector contributed 39.5 percent to the economy