Country Report Brunei March 2011

Outlook for 2011-12: External sector

Brunei will continue to record large surpluses on its current account. Boosted by higher oil and gas prices in 2010, the surplus is estimated to have risen in 2010, from US$4bn in 2009. Global oil and gas prices are expected to remain relatively high in 2011-12, and this is likely to swell the surplus further. Brunei's current-account surplus will remain equivalent to 40-50% of GDP during the forecast period. Exports of crude oil and liquefied natural gas (LNG) will continue to account for the lion's share of total exports, while the country will remain dependent on a range of consumer and capital-goods imports to meet domestic needs.

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