This small, wealthy economy is a mixture of foreign and domestic entrepreneurship, government regulation and welfare measures, and village tradition. It is almost totally supported by exports of crude oil and natural gas, with revenues from the petroleum sector accounting for over half of GDP. Per capita GDP is far above most other Third World countries, and substantial income from overseas investment supplements income from domestic production. The government provides for all medical services and subsidizes food and housing. The government has shown progress in its basic policy of diversifying the economy away from oil and gas. Brunei's leaders are concerned that steadily increased integration in the world economy will undermine internal social cohesion although it has taken steps to become a more prominent player by serving as chairman for the 2000 APEC (Asian Pacific Economic Cooperation) forum. Growth in 1999 is estimated at 2.5% due to higher oil prices in the second half.
Agriculture Products
rice, cassava (tapioca), bananas; water buffalo
Industries
petroleum, petroleum refining, liquefied natural gas, construction
Industrial Production Growth Rate
4% (1997 est.)
Labor Force
Array
Electricity production
2.56 billion kWh (1998)
Electricity production by source
Fossil fuel: 100%
Hydro: 0%
Nuclear: 0%
Other: 0% (1998)
Electricity Consumption
2.381 billion kWh (1998)
Electricity Exports
0 kWh (1998)
Electricity Imports
0 kWh (1998)
Currency
1 Bruneian dollar (B$) = 100 cents
Unemployment Rate
4.9% (1995 est.)
Population Below Poverty Line
NA%
Household Income or Consumption by Percentage Share
Lowest 10%: NA%
Highest 10%: NA%
Budget
Revenues: $2.5 billion
Expenditures: $2.6 billion, including capital expenditures of $768 million (1995 est.)
Commercial Bank Prime Lending Rate
Stock of Narrow Money
Stock of Broad Money
Stock of Domestic Credit
Market Value of Publicly Traded Shares
Reserves of Foreign Exchange and Gold
Debt External
$0
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Bruneian dollars (B$) per US$1 - 1.6733 (January 2000), 1.6950 (1999), 1.6736 (1998), 1.4848 (1997), 1.4100 (1996), 1.4174 (1995); note - the Bruneian dollar is at par with the Singapore dollar
