This small, wealthy economy is a mixture of foreign and domestic entrepreneurship, government regulation and welfare measures, and village tradition. Exports of crude oil and natural gas account 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 rice and housing. Brunei's leaders are concerned that steadily increased integration in the world economy will undermine internal social cohesion although it became a more prominent player by serving as chairman for the 2000 APEC (Asian Pacific Economic Cooperation) forum. Plans for the future include upgrading the labor force, reducing unemployment, strengthening the banking and tourist sectors, and, in general, a further widening of the economic base beyond oil and gas.
Agriculture Products
rice, vegetables, fruits, chickens, water buffalo
Industries
petroleum, petroleum refining, liquefied natural gas, construction
Industrial Production Growth Rate
4% (1997 est.)
Labor Force
Array
Electricity production
2.445 billion kWh (1999)
Electricity production by source
Fossil fuel: 100%
Hydro: 0%
Nuclear: 0%
Other: 0% (1999)
Electricity Consumption
2.274 billion kWh (1999)
Electricity Exports
0 kWh (1999)
Electricity Imports
0 kWh (1999)
Currency
Bruneian dollar (BND)
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 $1.35 billion (1997 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 per US dollar - 1.7365 (January 2001), 1.7240 (2000), 1.6950 (1999), 1.6736 (1998), 1.4848 (1997), 1.4100 (1996); note - the Bruneian dollar is at par with the Singapore dollar
