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|Published Date: 20-03-2026
Business Sentiment Index (BSI) for Brunei Darussalam for January 2026
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Brunei Darussalam Central Bank (BDCB) today published Brunei Darussalam's Business Sentiment Index (BSI) for January 2026. The index is based on surveys conducted on approximately 500 micro, small, medium, and large businesses across 11 economic sectors in all districts of Brunei Darussalam.
The monthly index is designed to measure the level of business confidence/sentiment in the country, covering various aspects including current and future business conditions, investment, employment of workers, as well as costs of running the business. With its forward-looking approach, the BSI could serve as a leading macroeconomic indicator for the country.
The BSI and sub-indices can be interpreted as below:
| BSI value | Interpretation |
| Above 50 | Expansion / Optimism compared to the previous month |
| 50 | Similar / No change compared to the previous month |
| Below 50 | Contraction / Pessimism compared to the previous month |
The main headline index, Current Business Conditions sub-index, was recorded at 50.2 in January 2026, indicating that, in general, businesses expected more optimistic business conditions compared to December 2025. Optimism was largely driven by the resumption of normal business activities after the holiday period, renewed demand at the start of the year, upcoming festive‑related spending, and the boost from contract renewals and new projects. However, some sectors reported pessimism due to seasonally lower activity and softer consumer spending following the December peak. The one month ahead (1M) index stood at 50.0, suggesting that businesses expect conditions to remain stable in February 2026. Some businesses expressed concerns over reduced operating hours in February, given the shorter month and multiple public holidays, while others anticipated increased sales and demand ahead of the Chinese New Year, Ramadhan, and Eid celebrations.
The Investment sub-index showed positive signs with both the current month and one month (1M) ahead indices at 50.5, while the index for three months (3M) ahead stood at 50.7. Businesses cited planned investments, including the expansion of premises such as showrooms, offices, and warehouses; the introduction of new products to meet evolving customer preferences; restocking inventories in anticipation of stronger demand; undertaking renovations and upgrades; and project‑related purchases of equipment and machinery.
The Employment sub-index stood at 49.7 for both the current month and one month (1M) ahead. Despite general optimism about business conditions, sentiment towards employment remains subdued, continuing the trend observed in recent months. Businesses reported lower headcount in January 2026 due to contract expiries and staff departures, with some noting workforce adjustments as part of ongoing cost‑management measures. For the month ahead, some businesses anticipate further staff departures while planning to recruit new employees, with lengthy hiring processes cited as a challenge.
The Costs sub-index was 49.7 for the current month and 50.2 for one month ahead. Compared with December 2025, when businesses faced higher operating costs due to year-end bonus payments and marketing expenses associated with year-end sales promotions, operating costs in January 2026 are expected to be lower. Additionally, businesses reported lower salary costs due to a smaller workforce than the previous month. For February 2026, overall business costs are expected to increase moderately, in line with anticipated increased business activities ahead of the festive period.
BSI January 2026 | |
| Current Business Conditions | 50.2 |
| 1M Ahead Business Conditions | 50.0 |
| Current Investment | 50.5 |
| 1M Ahead Investment | 50.5 |
| 3M Ahead Investment | 50.7 |
| Current Employment | 49.7 |
| 1M Ahead Employment | 49.7 |
| Current Costs | 49.7 |
| 1M Ahead Costs | 50.2 |
Note: 1M – one month, 3M – three months
In terms of economic sectors:
| Sector | Index | Factors |
Optimistic Sentiment | Health & Education | 50.9 | The new year and school term are expected to boost activity, driven by higher school enrolments and fee collections, as well as increased patient visits to clinics and hospitals. |
| Oil & Gas Related | 50.2 | Stable production levels. | |
| Agriculture, Forestry, Fisheries & Livestock | 50.1 | Mixed sentiment, generally leaning positive due to a rebound in activity and demand after the school holidays. However, adverse weather, including flooding in some areas, is expected to disrupt production and heighten challenges for many small and micro businesses. | |
No change | Finance & Insurance | 50.0 | Generally stable, supported by optimism from takaful/insurance companies anticipating gains from mandatory medical coverage and by expectations of normalised activity following December’s peak period. |
| Hotels & Restaurants | 50.0 | Mixed sentiment, with restaurants expecting improved demand after the school holidays, while hotels anticipate slower activity than in December. | |
| Manufacturing | 50.0 | Stable sentiment, supported by the resumption of normal operations and increased orders ahead of the Chinese New Year and Eid festivities, although weather conditions are expected to affect production for some businesses. | |
| Other Private Services | 50.0 | Mixed sentiments, with optimism driven by contract renewals, project awards, participation in events such as the Consumer Fair and Trade Expo, and back-to-normal activities, and pessimism linked to delays in project confirmations. | |
Pessimistic Sentiment | Construction | 49.9 | While most businesses reported similar business conditions, the sub-index leaned slightly towards pessimism due to slower business activity. |
| Real Estate & Ownership of Dwellings | 49.9 | Reduced business activities. | |
| Wholesale & Retail Trade | 49.9 | Following the end-of-year promotions and peak consumer spending. | |
| Transport & Communication | 49.3 | Lower travel demand, as well as data roaming and internet services, after the holiday period. |
In terms of business size:
| Size | Index | Factors |
Optimistic Sentiment | Large | 50.2 | Customer traffic and business activities were anticipated to increase after the school holidays. |
Medium | 50.1 | ||
No change | Small | 50.0 | Neutral sentiments were recorded, indicating mixed sentiments across businesses in different sectors. |
Micro | 50.0 |
The time-series charts for the BSI and its sub-indices since August 2020 can be found in ANNEX 1. For more information on the BSI, members of the public can refer to the technical notes on the methodology and statistics on the BDCB website at www.bdcb.gov.bn and follow updates on the BSI through future press releases and BDCB’s Instagram account @centralbank.brunei.
