(Bandar Seri Begawan, 2nd) Brunei Darussalam Central Bank (BDCB) has released the Brunei Business Confidence Index (BSI) for November 2025.
The index is based on a survey of around 500 micro, small, medium, and large enterprises across 11 economic sectors nationwide.
The BSI aims to measure Brunei businesses' confidence in various areas such as the current and expected business environment, investment, hiring, and operational costs.
The BSI's forward-looking approach makes the collected data and information serve as an early indicator for identifying Brunei's macroeconomic condition.
The BSI's main index—the Business Conditions sub-index—recorded 50 in November 2025, indicating that overall business conditions were similar to the previous month. Most businesses believed conditions remained normal, with no significant changes compared to October 2025, resulting in an overall neutral business confidence index.
In addition, other business reports showed a mix of optimism and pessimism. Optimistic expectations mainly stemmed from new projects, promotional activities, greater demand related to events, and increased activity after the exam season.
On the other hand, pessimistic expectations were mainly due to increased cross-border travel leading to decreased domestic consumer spending.
The one-month forward index was 50.1, suggesting most businesses are fairly optimistic about prospects for December 2025, as wage income including bonuses, year-end promotions, back-to-school shopping, and holiday shopping are expected to boost consumer spending.
Furthermore, businesses are also looking forward to new projects at the start of the new year, though some may be affected by weather-related factors or face the risk of contract termination.
The investment sub-index was 50.5 for the current month, 50.4 one month ahead, and 50.7 three months ahead, reflecting that investment levels in November 2025 will rise and continue to grow over the coming months.
Due to year-end project wrap-ups, including machinery procurement, equipment upgrades and refurbishments, most businesses expect investment levels in November and December 2025 to increase.
Traders expect investments to continue rising in the coming months, especially in preparation for festive demand for Chinese New Year and Hari Raya Aidilfitri, as well as activities such as new project launches, project tenders, new machinery procurement, renovations, and the opening of new branches.
The employment sub-index this month was 49.9, and for next month was one million. Due to a slight decline in employee numbers, both sub-indices reflected a slightly pessimistic outlook. The main reasons for the decrease in workforce were completion of major projects leading to fewer employees, reduced scope of work or downsizing, and staff resignations or contract terminations with no immediate replacements.
However, this decrease is considered temporary, and many businesses have indicated plans to recruit replacements and retain existing staff.
This month's cost sub-index was 49.6, with the next month's cost sub-index at 50.6, indicating that costs are expected to decrease in November 2025 but increase in December 2025.
Some businesses stated that, due to major project completions and seasonal lulls, they expect costs in November 2025 to decrease. Some respondents also anticipated lower expenses on raw materials, equipment rental, and vehicle maintenance.
Many businesses generally expect costs in December 2025 to rise, mainly due to year-end bonuses and project-related expenses. In addition, increases in spending for roadshows, advertising, festive promotions, and year-end functions also pushed up costs for the month.
For more detailed information about the BSI, the public may visit the Brunei Darussalam Central Bank (BDCB) website www.bdcb.gov.bn to consult the technical notes on methodology and statistics.
The public can also get the latest updates about the BSI via upcoming press releases and the Central Bank's Instagram account @centralbank.brunei.
The index is based on a survey of around 500 micro, small, medium, and large enterprises across 11 economic sectors nationwide.
The BSI aims to measure Brunei businesses' confidence in various areas such as the current and expected business environment, investment, hiring, and operational costs.
The BSI's main index—the Business Conditions sub-index—recorded 50 in November 2025, indicating that overall business conditions were similar to the previous month. Most businesses believed conditions remained normal, with no significant changes compared to October 2025, resulting in an overall neutral business confidence index.
In addition, other business reports showed a mix of optimism and pessimism. Optimistic expectations mainly stemmed from new projects, promotional activities, greater demand related to events, and increased activity after the exam season.
On the other hand, pessimistic expectations were mainly due to increased cross-border travel leading to decreased domestic consumer spending.
The one-month forward index was 50.1, suggesting most businesses are fairly optimistic about prospects for December 2025, as wage income including bonuses, year-end promotions, back-to-school shopping, and holiday shopping are expected to boost consumer spending.
Furthermore, businesses are also looking forward to new projects at the start of the new year, though some may be affected by weather-related factors or face the risk of contract termination.
The investment sub-index was 50.5 for the current month, 50.4 one month ahead, and 50.7 three months ahead, reflecting that investment levels in November 2025 will rise and continue to grow over the coming months.
Due to year-end project wrap-ups, including machinery procurement, equipment upgrades and refurbishments, most businesses expect investment levels in November and December 2025 to increase.
Traders expect investments to continue rising in the coming months, especially in preparation for festive demand for Chinese New Year and Hari Raya Aidilfitri, as well as activities such as new project launches, project tenders, new machinery procurement, renovations, and the opening of new branches.
The employment sub-index this month was 49.9, and for next month was one million. Due to a slight decline in employee numbers, both sub-indices reflected a slightly pessimistic outlook. The main reasons for the decrease in workforce were completion of major projects leading to fewer employees, reduced scope of work or downsizing, and staff resignations or contract terminations with no immediate replacements.
However, this decrease is considered temporary, and many businesses have indicated plans to recruit replacements and retain existing staff.
This month's cost sub-index was 49.6, with the next month's cost sub-index at 50.6, indicating that costs are expected to decrease in November 2025 but increase in December 2025.
Some businesses stated that, due to major project completions and seasonal lulls, they expect costs in November 2025 to decrease. Some respondents also anticipated lower expenses on raw materials, equipment rental, and vehicle maintenance.
Many businesses generally expect costs in December 2025 to rise, mainly due to year-end bonuses and project-related expenses. In addition, increases in spending for roadshows, advertising, festive promotions, and year-end functions also pushed up costs for the month.
For more detailed information about the BSI, the public may visit the Brunei Darussalam Central Bank (BDCB) website www.bdcb.gov.bn to consult the technical notes on methodology and statistics.
The public can also get the latest updates about the BSI via upcoming press releases and the Central Bank's Instagram account @centralbank.brunei.