AEIR 2019/2020

GDP estimates show a 1.0% contraction in 2018 from 1.3% growth in 2017. Despite higher prices, oil and gas production, which accounts for roughly two-thirds of GDP, may have also contracted as crude oil output declined by 1.5%, natural gas and liquefied natural gas by 3.0% each. Other sectors also declined by 0.8% in the first 3 quarters of 2018. Lower prospects for oil prices and a weakening external environment temper growth expectations. However, the start of downstream production at the Hengyi refinery and construction on the Brunei Fertilizer Industries plant and Temburong Bridge may stimulate growth until year’s end. GDP growth should reach 1.0% in 2019 and 1.5% in 2020.
Source: Asian Development Outlook 2019, ADB.
Latest Month-Ago Year-Ago
Broad Money Growth 1 0.8 (Feb20)0.9 4.7
Headline Inflation Rate 2 1.5 (Feb20)1.1 -0.3
Merchandise Export Growth 2 11.9 (Jan20)-42.7 23.8
Exchange Rate Index 3 87.2 (Apr20)86.9 83.4
1 %.
2 y-o-y, %.
3 Monthly average, January 2006 = 100, $/local currency.
Source: CEIC database.

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