This small, well-to-do economy encompasses a mixture of foreign and domestic entrepreneurship, government regulation, welfare measures, and village tradition. Crude oil and natural gas production account for nearly 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 free education through the university level 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, further widening 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
5% (2002 est.)
Labor Force
Array
Electricity production
2.458 billion kWh (2002)
Electricity Consumption
2.286 billion kWh (2002)
Electricity Exports
0 kWh (2002)
Electricity Imports
0 kWh (2002)
Unemployment Rate
3.2% (2002 est.)
Population Below Poverty Line
NA
Household Income or Consumption by Percentage Share
Lowest 10%: NA
Highest 10%: NA
Budget
Revenues: $4.9 billion
Expenditures: $4.2 billion, including capital expenditures of $1.35 billion (2003 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 - 1.6902 (2004), 1.7422 (2003), 1.7906 (2002), 1.7917 (2001), 1.724 (2000)
