High Industry GDP Ratios: Brunei´s 61.8% Reflects Resource-Dependent Economy

Abstract

Brunei’s 61.8% industry-to-GDP ratio in 2023 reflects its reliance on oil and gas production, which fuels both industrial output and construction. Historically, Brunei has had an industrial-heavy economy due to its natural resource wealth, particularly in petroleum. The high industry share contrasts with global trends, where many nations have shifted toward service-based economies. Despite efforts to diversify, such as investments in infrastructure, Brunei’s economy remains heavily dependent on extractive industries, leading to such a high proportion of industrial activity in its GDP.

Industry including construction as a percentage of GDP

Brunei’s peak of 90.5% in 1974 for the agriculture, forestry, fisheries, and construction sectors reflected its earlier reliance on primary industries, particularly agriculture and natural resources. Since then, the sector’s contribution to GDP has steadily declined, reaching 68.3% of its peak in 2023. This trend mirrors global shifts toward industrialization and services, with economies diversifying away from primary sectors. Brunei’s transformation, largely driven by oil and gas exports, has led to a growing industrial and construction focus, reflecting broader global economic modernization.

The maximum is 90.5%[1974] of Brunei, and the current value is about 68.3%

Industry including construction as a percentage of GDP (nations around the world)

Brunei’s 1974 peak of 90.5% for industries, including construction, reflects its heavy reliance on natural resource extraction, particularly oil and gas. Since then, the ratio has declined to 68.3% in 2023, aligning with global trends where economies have increasingly shifted towards services and technology-driven sectors. Brunei’s decline in industry share highlights its transition from a primarily resource-based economy to one that emphasizes infrastructure development and diversification efforts, though oil and gas remain central to its economic structure. This mirrors broader shifts in industrialization across the global economy.

The maximum is 90.5%[1974] of Brunei, and the current value is about 68.3%

Industries including construction as a percentage of GDP (nations around the world, latest year)

In 2023, Libya’s GDP ratio of industries, including construction, stood at 85%, the highest globally. This reflects its reliance on oil and gas production, which dominates its industrial sector. Libya’s high ratio contrasts sharply with the global average of 25.9%, showcasing how resource-rich countries often have an industrial-heavy economy. Over time, many nations have shifted towards services and technology sectors, reducing the share of industry in GDP. Libya’s high industrial share remains a testament to its resource-based economy, with limited diversification efforts so far.

The maximum is 85% of Libya, the average is 25.9%, and the total is 3.91k%

Industry including construction, as a percentage of GDP (region, latest year)

In 2023, the Middle East and North Africa (MENA) region had the highest GDP ratio of agriculture, forestry, fisheries, and construction industries at 39.4%, surpassing the global average of 28.5%. This high ratio reflects the region’s reliance on agriculture and construction, particularly in countries with large rural populations and those undergoing significant infrastructure development. Over time, MENA economies have made efforts to diversify, but the agricultural and construction sectors remain crucial. However, global trends indicate a gradual shift toward industrial and service sectors as economies modernize.

The maximum is 17.9% of North America, the average is 17.9%, and the total is 17.9%

Main data

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