I got this book from my colleague at PMO yesterday. It is Brunei's 2008 Annual National Accounts. What is it?
It is a publication by the Statistics Department of the Economic Planning and Development Department of the Prime Minister's Office. It tells you what Brunei's GDP is. This one tells you what the 2008 GDP figures look like.
First of all, the statistician corrected the growth rate of 2007. It was provisionally estimated to be 0.6% growth but it has now been revised to 0.2% growth only. of which the oil sector's growth is a negative 6.9% but the non-oil sector growth was 8.5%. But since our economy is oil dependent, that impressive growth in th enon-oil sector translated into only 0.2% growth overall.
What about 2008? We were officially in recession. Our growth rate for 2008 is a negative 1.9%. The oil and gas sector dropped by 6.3% but the non oil and gas sector only picked up by 2.4%. Overall 2007 figures are much better. Our 2008 GDP at current prices is $20.4 billion and our GDP per capita is $51,251.
Anyway, you can read the report yourself as JPKE has made it available on their website as a PDF file. I have made it easier for you readers out there. Click here to download it.