Brunei

Brunei: an outright decline in dollar terms, 1980–2024

Oil and gas account for most of Brunei's exports and government revenue, giving the small sultanate a high per-capita income, though declining output has pushed it to diversify into downstream refining and petrochemicals. Between 1980 and 2024, Brunei's GDP per capita grew from $58,005 to $33,153 (current US$), a compound annual growth rate of -1.3% — an outright decline in dollar terms. Annual GDP growth averaged -0.4% with a year-to-year standard deviation of 4.6 points, reflecting considerable volatility and periodic crises. Structurally, agriculture's share of the economy moved from 0.1% to 1.2% of GDP (a notable increase), while services rose from 4.3% to 39.0% of GDP, underscoring a shift toward a services-driven economy. On human development, life expectancy rose from 69.0 to 75.5 years, while tertiary school enrollment moved from 0.9% to 36.4%, while the urban population share grew from 59.5% to 74.9%.

What this growth cost: Growth was not without cost: per-capita CO2 emissions fell from 21.25 to 20.24 tonnes CO2e per person.