Economy Overview
Brunei is an energy-rich sultanate on the northern coast of Borneo in Southeast Asia. Brunei boasts a well-educated, largely English-speaking population; excellent infrastructure; and a stable government intent on attracting foreign investment. Crude oil and natural gas production account for approximately 65% of GDP and 95% of exports, with Japan as the primary export market.; Per capita GDP is among the highest in the world, and substantial income from overseas investment supplements income from domestic hydrocarbon production. Bruneian citizens pay no personal income taxes, and the government provides free medical services and free education through the university level.; The Bruneian Government wants to diversify its economy away from hydrocarbon exports to other industries such as information and communications technology and halal manufacturing, permissible under Islamic law. Brunei’s trade increased in 2016 and 2017, following its regional economic integration in the ASEAN Economic Community, and the expected ratification of the Trans-Pacific Partnership trade agreement.;
Agriculture Products
rice, vegetables, fruits; chickens, water buffalo, cattle, goats, eggs
Industries
petroleum, petroleum refining, liquefied natural gas, construction, agriculture, aquaculture, transportation
Industrial Production Growth Rate
1.5% (2017 est.); country comparison to the world: 142;
Labor Force
203,600 (2014 est.); country comparison to the world: 170;
Unemployment Rate
6.9% (2017 est.); 6.9% (2016 est.); country comparison to the world: 102;
Population Below Poverty Line
NA;
Household Income or Consumption by Percentage Share
Lowest 10%: NA
Highest 10%: NA
Budget
Revenues: 2.245 billion (2017 est.)
Expenditures: 4.345 billion (2017 est.)
Public Debt
2.8% of GDP (2017 est.); 3% of GDP (2016 est.); country comparison to the world: 207;
Commercial Bank Prime Lending Rate
Stock of Narrow Money
$3.387 billion (31 December 2017 est.); $3.232 billion (31 December 2016 est.); country comparison to the world: 117;
Stock of Broad Money
$3.387 billion (31 December 2017 est.); $3.232 billion (31 December 2016 est.); country comparison to the world: 123;
Stock of Domestic Credit
$3.665 billion (31 December 2017 est.); $4.066 billion (31 December 2016 est.); country comparison to the world: 134;
Market Value of Publicly Traded Shares
NA;
Reserves of Foreign Exchange and Gold
$3.488 billion (31 December 2017 est.); $3.366 billion (31 December 2015 est.); country comparison to the world: 105;
Debt External
$0 (2014); $0 (2013); note: public external debt only; private external debt unavailable; country comparison to the world: 204;
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Bruneian dollars (BND) per US dollar -; 1.394 (2017 est.); 1.3814 (2016 est.); 1.3814 (2015 est.); 1.3749 (2014 est.); 1.267 (2013 est.);
