Brunei's Economy Down 9.7%
The Brunei Times on 30 January 2014 had this report about Brunei: ++++ by Fitri Shahminan BANDAR SERI BEGAWAN Thursday, January 30, 2014 - BRUNEI’S economic output tumbled 9.7 per cent in the third quarter of 2013 due to a significant decline in the performance of both the oil and gas sector, and industry. During the quarter, the country’s gross domestic product (GDP) was estimated at $4.66 billion at current prices, data from the Department of Economic Planning and Development (JPKE) show. This was a decline of almost two digits from the $5.16 billion recorded in the same period of 2012. The department in its press statment did not say what sector caused the economic decline in the third quarter of last year. However, statistics released by the JPKE show that the oil and gas sector’s economic performance in the quarter decreased 11.7 per cent year on year. The industrial sector, weighed down heavily by a 17.2 per cent slump in mining, posted a year-on-year decrease of 9.7 per cent.