Brunei continues to see positive growth in Q3 2017

Source: Xinhua| 2017-12-29 00:08:40|Editor: Mu Xuequan
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BANDAR SERI BEGAWAN, Dec. 28 (Xinhua) -- Following a 0.7 percent growth in the previous quarter, Brunei's economy continued to expand by 1.2 percent year-on-year in the third quarter of 2017, the country's Department of Economic Planning and Development (JPKE) at the Prime Minister's Office announced on Thursday.

This expansion is driven by domestic demand, the capital expenditure of the private sector in particular, which grew further by 16.3 percent, after a 28.5 percent growth in the second quarter, while household consumption expenditure also registered continuous growth at 2.7 percent, following a 4.5 percent growth in Q2 2017.

On the supply side, the positive growth was primarily contributed by the industrial sector, which recorded a further growth of 1.1 percent year-on-year where this performance was supported mainly by the construction sector with a 16.2 percent growth.

"The services sector increased by 1.3 percent year-on-year in the third quarter, extending a 0.1 percent growth in the previous quarter," said JPKE.

Brunei's agriculture, forestry and fishery sector meanwhile recorded a 0.9 percent contraction due to decline in the production of forestry as well as livestock and poultry sector.