In 2024, Brunei Darussalam's Gross Domestic Product, GDP at constant prices, grew at 4.2 per cent year-on-year. According to the Department of Economic Planning and Statistics, Ministry of Finance and Economy, it was driven by a 5.5 per cent expansion in the Oil and Gas Sector and a 3.1 per cent growth in the Non-oil and Gas Sector.

The growth of the Oil and Gas Sector was largely driven by the rise in production of crude oil and natural gas. The expansion of the Non-oil and Gas sector was primarily supported by increase in subsectors.

In 2024, the economy's GDP at current prices was at 20.7 billion dollars, an increase from 2023 which was at 20.3 billion dollars. The Non-oil and Gas Sector contributed 53.3 per cent, while the Oil and Gas Sector has contributed 46.7 per cent.

The country's GDP at constant prices, in the fourth quarter of 2024, recorded a decline at 1.1 per cent year-on-year. This was due to the decline of the Oil and Gas sector by 5.2 per cent. However, the Non-oil and Gas Sector shows an increase by 2.7 percent.

By economic activity, in terms of GDP contribution for fourth quarter of 2024, the main contributor was Industry Sector, followed by Services Sector, and the Agriculture, Forestry and Fishery Sector. The Non-oil and Gas Sector contributed 56.6 per cent, whereas the Oil and Gas Sector contributed 43.4 per cent.

The full report for the GDP fourth quarter of 2024 is available from DEPS's website, 'deps.mofe.gov.bn'.