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Brunei Economy 2019

SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES











Brunei Economy 2019
SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 08, 2019

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.

GDP (purchasing power parity):
$33.87 billion (2017 est.)
$33.42 billion (2016 est.)
$34.27 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 128
[see also: GDP country ranks ]

GDP (official exchange rate):
$12.13 billion (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1.3% (2017 est.)
-2.5% (2016 est.)
-0.4% (2015 est.)
country comparison to the world: 178
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$78,900 (2017 est.)
$79,000 (2016 est.)
$82,200 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 9
[see also: GDP - per capita country ranks ]

Gross national saving:
47.5% of GDP (2017 est.)
50.1% of GDP (2016 est.)
51.9% of GDP (2015 est.)
country comparison to the world: 3
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 25% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 24.8% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 32.6% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 8.5% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 45.9% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -36.8% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 1.2% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 56.6% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 42.3% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

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
[see also: Industrial production growth rate country ranks ]

Labor force:
203,600 (2014 est.)
country comparison to the world: 170
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 4.2%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 62.8%
[see also: Labor force - by occupation - industry country ranks ]
services: 33% (2008 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
6.9% (2017 est.)
6.9% (2016 est.)
country comparison to the world: 102
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: 2.245 billion (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 4.345 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
18.5% (of GDP) (2017 est.)
country comparison to the world: 158
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-17.3% (of GDP) (2017 est.)
country comparison to the world: 218
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
2.8% of GDP (2017 est.)
3% of GDP (2016 est.)
country comparison to the world: 207
[see also: Public debt country ranks ]

Fiscal year:
1 April - 31 March

Inflation rate (consumer prices):
-0.2% (2017 est.)
-0.7% (2016 est.)
country comparison to the world: 9
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
5.5% (31 December 2017 est.)
5.5% (31 December 2016 est.)
country comparison to the world: 133
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$3.387 billion (31 December 2017 est.)
$3.232 billion (31 December 2016 est.)
country comparison to the world: 117
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$3.387 billion (31 December 2017 est.)
$3.232 billion (31 December 2016 est.)
country comparison to the world: 123
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$3.665 billion (31 December 2017 est.)
$4.066 billion (31 December 2016 est.)
country comparison to the world: 134
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$2.021 billion (2017 est.)
$1.47 billion (2016 est.)
country comparison to the world: 41
[see also: Current account balance country ranks ]

Exports:
$5.885 billion (2017 est.)
$5.023 billion (2016 est.)
country comparison to the world: 104
[see also: Exports country ranks ]

Exports - partners:
Japan 27.8%, South Korea 12.4%, Thailand 11.5%, Malaysia 11.3%, India 9.3%, Singapore 7.7%, Switzerland 5%, China 4.7% (2017)

Exports - commodities:
mineral fuels, organic chemicals

Imports:
$2.998 billion (2017 est.)
$2.658 billion (2016 est.)
country comparison to the world: 148
[see also: Imports country ranks ]

Imports - commodities:
machinery and mechanical appliance parts, mineral fuels, motor vehicles, electric machinery

Imports - partners:
China 19.6%, Singapore 19%, Malaysia 18.8%, US 9.2%, Germany 5.9%, Japan 4.1%, UK 4% (2017)

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
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$0 (2014)
$0 (2013)
note: public external debt only; private external debt unavailable
country comparison to the world: 204
[see also: Debt - external country ranks ]

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.)


NOTE: 1) The information regarding Brunei on this page is re-published from the 2019 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Brunei Economy 2019 information contained here. All suggestions for corrections of any errors about Brunei Economy 2019 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






This page was last modified 08-Feb-19
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