Economy Overview
Brunei has a small well-to-do economy that encompasses a mixture of foreign and domestic entrepreneurship, government regulation, welfare measures, and village tradition. Crude oil and natural gas production account for just over half of GDP and more than 90% of exports. Per capita GDP is among the highest in Asia, 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 into the world economy will undermine internal social cohesion. Plans for the future include upgrading the labor force, reducing unemployment, strengthening the banking and tourist sectors, increasing agricultural production, and, in general, further widening the economic base beyond oil and gas.
Agriculture Products
rice, vegetables, fruits; chickens, water buffalo, cattle, goats, eggs
Industries
petroleum, petroleum refining, liquefied natural gas, construction
Industrial Production Growth Rate
1.8% (2006 est.)country comparison to the world: 109
Labor Force
188,800 (2008 est.)country comparison to the world: 166
Electricity production
3.091 billion kWh (2007 est.)country comparison to the world: 124
Electricity Consumption
2.926 billion kWh (2007 est.)country comparison to the world: 128
Electricity Exports
0 kWh (2008 est.)
Electricity Imports
0 kWh (2008 est.)
Unemployment Rate
3.7% (2008)country comparison to the world: 44 4% (2006)
Population Below Poverty Line
NA%
Household Income or Consumption by Percentage Share
Lowest 10%: NA%
Highest 10%: NA%
Budget
Revenues: $6.889 billion
Expenditures: $4 billion (2008 est.)
Commercial Bank Prime Lending Rate
Stock of Domestic Credit
$1.274 billion (31 December 2008)country comparison to the world: 104 $2.38 billion (31 December 2007)
Market Value of Publicly Traded Shares
$NA
Reserves of Foreign Exchange and Gold
Debt External
$0 (2005)country comparison to the world: 202
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Bruneian dollars (BND) per US dollar - NA (2007), 1.5886 (2006), 1.6644 (2005), 1.6902 (2004), 1.7422 (2003)
