BANDAR SERI BEGAWAN, Aug. 23 — Brunei’s gross domestic product (GDP) increased by 0.8 per cent at constant prices year-on-year in the first quarter of 2023, the latest statistical figures released on Tuesday showed, reported Xinhua.
According to the Ministry of Finance and Economy, Economic Planning and Statistics Department, an increase in the non-oil and gas sector by 6.2 per cent 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 per cent, followed by finance at 71.7 per cent and other transport services at 33.1 per cent.
Meanwhile, the oil and gas sector fell by 5 per cent, 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 gross domestic product in the first quarter of 2023 was US$3.6 billion (RM 16.75 billion).
— Bernama-Xinhua
