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. A new monetary authority was established in January 2011 with responsibilities that include monetary policy, monitoring of financial institutions, and currency trading activities. Other 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
-5.4% (2008 est.)country comparison to the world: 164
Labor Force
188,800 (2008 est.)country comparison to the world: 171
Electricity production
3.069 billion kWh (2008)country comparison to the world: 123
Electricity Consumption
2.98 billion kWh (2008)country comparison to the world: 127
Electricity Exports
0 kWh (2008 est.)
Electricity Imports
0 kWh (2008 est.)
Unemployment Rate
3.7% (2008)country comparison to the world: 31 4% (2006)
Population Below Poverty Line
NA%
Household Income or Consumption by Percentage Share
Lowest 10%: NA%
Highest 10%: NA%
Commercial Bank Prime Lending Rate
Stock of Narrow Money
$3.374 billion (30 March 2009)country comparison to the world: 108 $3.046 billion (31 December 2008)
Stock of Broad Money
$8.569 billion (31 December 2009)country comparison to the world: 106 $7.597 billion (31 December 2008)
Stock of Domestic Credit
$1.274 billion (31 December 2008 est.)country comparison to the world: 142 $2.38 billion (31 December 2007 est.)
Market Value of Publicly Traded Shares
$NA
Reserves of Foreign Exchange and Gold
Debt External
$0 (2005)country comparison to the world: 195
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Bruneian dollars (BND) per US dollar - 1.45 (2009), 1.45 (2009), 2 (2006), 2 (2005), 2 (2004)
