B R U N E I E C O N

We thank the Department of Economic Planning and Statistics (DEPS) and the Treasury Department at the Ministry of Finance and Economy (MOFE) and the Department of Energy at the Prime Minister’s Office (PMO) for sharing the data used in this Update. [...] Current and future economic sentiment markedly in the first half of 2022 owing to the economic Index Current global situation disruptions from COVID-19 resurgences brought by the Omicron 60 Global economic expectations variant at the start of the year, adverse spillovers from Russia’s 40 invasion of Ukraine, and the withdrawal of policy support amid high inflation. [...] Global goods trade 40 12 slowed in the first half of 2022, dampened by the impact of the 45 10 strict zero-COVID strategy in China and disruptions associated with the war in Ukraine. [...] Russia and Ukraine commodity exports surged in the first half of 2022, in part reflecting the effects of the Percent of global exports Russia Ukraine war in Ukraine. [...] According to data from the 2015/16 Household Expenditure Survey, the poorest 20 percent of households in Brunei spend 16.3 percent of their income on food and beverages, whereas the share is 10.4 percent in the richest 20 percent of households.