Brunei’s economy saw broad-based growth in 2024, its strongest expansion in decades. The economy grew by 4.1 percent in 2024, driven by strong rebounds in both upstream and downstream oil and gas (O&G) sectors. Growth is projected to ease to a more sustainable pace of 2.0 percent in 2025-2026, as upstream and downstream O&G production stabilizes.
Headline inflation has been declining since 2023 and turned negative last year, reflecting lower prices in transport, communication, clothing, and footwear. It is expected to stay subdued, averaging below 1 percent in 2025–26, driven by lower food and energy costs.