Bandar Seri Begawan - Brunei Darussalam has recorded a 0.1 per cent growth at constant prices for its Gross Domestic Product (GDP) in the third quarter of last year (Q3 2012) compared to the previous quarter the same year (Q2 2012).
According to latest figures released by the Department of Economic Planning and Development (JPKE), a GDP of $5,157.9 million was estimated in Q3 2012, up from $4,776.4 million the previous quarter.
This was mainly attributed to the growth of the Non Oil & Gas sector by 3.7 per cent. However, the Oil & Gas sector fell by 4.1 per cent.
The Agriculture, Forestry & Fishery sector grew by 4.8 per cent due to the increase in the production of Livestock and Poultry by 10.0 per cent, Fishery by four per cent and Vegetables. Fruits and Other Agriculture by 0.5 per cent.
The Industrial sector fell by 3.3 per cent compared to a negative growth of 1.3 per cent in Q2 2012. This was due to the negative growth of the Mining sector by 6.2 per cent.
Meanwhile, Electricity & Water increased by 3.3 per cent followed by Construction 2.1 per cent and Manufacturing two per cent.
The Services sector grew by 3.9 per cent. Private Services recorded the highest growth of 12 per cent, followed by Trade by 5.4 per cent, Finance by 3.6 per cent, Government services by 2.3 per cent, Real Estate & Ownership of Dwellings by two per cent and Transport & Communication by one per cent.
By the expenditure approach, GDP growth was due to the Imports of Goods and Services, which recorded the highest growth of 19.4 per cent, followed by Personal Consumption Expenditure by 4.4 per cent, Capital Formation by 3.7 per cent and Government Consumption Expenditure by 3.2 per cent.
Meanwhile Exports of Goods and Services recorded 'a decrease of by 9.2 per cent.
GDP is a measure of the total value of goods and services produced in a particular period after deducting the cost of goods and services used up in the process of production.
The GDP full reports for the Q3 2012 are available from JPKE's website: www.depd.gov.bn.
--Courtesy of Borneo Bulletin