Economy Of Brunei - Brunei Information

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Economy Of Brunei
Brunei Information - Country Guides

Economy overview	This small, wealthy 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 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.
GDP	purchasing power parity - $6.5 billion (2002 est.)
GDP - real growth rate	3% (2002 est.)
GDP - per capita	purchasing power parity - $18,600 (2002 est.)
GDP - composition by sector	agriculture: 5% industry: 45% services: 50% (2001 est.)
Investment gross fixed
Population below poverty line	NA (1992 est.)
Household income or consumption by percentage share	lowest 10%: na highest 10%: na
Distribution of family income - Gini index
Inflation rate consumer prices	-2% (2002 est.)
Labor force	143,400 note: includes foreign workers and military personnel; temporary residents make up about 40% of labor force (1999 est.)
Labor force by occupation	agriculture, forestry, and fishing 10%, production of oil, natural gas, services, and construction 42%, government 48% (1999 est.)
Unemployment rate	10% (2001 est.)
Budget	revenues: $2.5 billion expenditures: $2.6 billion, including capital expenditures of $1.35 billion (1997 est.)
Public debt
Agriculture products	rice, vegetables, fruits, chickens, water buffalo
Industries	petroleum, petroleum refining, liquefied natural gas, construction
Industrial production growth rate	5% (2002 est.)
Electricity production	2.497 billion kWh (2001)
Electricity production by source	fossil fuel: 100% hydro: 0% other: 0% (2001) nuclear: 0%
Electricity consumption	2.322 billion kWh (2001)
Electricity exports	0 kWh (2001)
Electricity imports	0 kWh (2001)
Oil production	217,200 bbl/day (2003 est.)
Oil consumption	13,000 bbl/day (2001 est.)
Oil exports	NA (2001)
Oil imports	NA (2001)
Oil proved reserves	1.255 billion bbl (1 January 2002)
Natural gas production	10.35 billion cu m (2001 est.)
Natural gas consumption	1.35 billion cu m (2001 est.)
Natural gas exports	9 billion cu m (2001 est.)
Natural gas imports	0 cu m (2001 est.)
Natural gas proved reserves	315 billion cu m (1 January 2002)
Current account balance
Exports	$3.439 billion f.o.b. (2002 est.)
Exports commodities	crude oil, natural gas, refined products
Exports partners	Japan 41%, South Korea 11.2%, Thailand 9.4%, Australia 8.4%, US 7.8%, China 6.7%, Singapore 4.5% (2003)
Imports	$1.63 billion c.i.f. (2002 est.)
Imports commodities	machinery and transport equipment, manufactured goods, food, chemicals
Imports partners	Singapore 19.9%, Malaysia 19.8%, US 11.4%, Japan 9.9%, Hong Kong 6.5%, China 4.8%, Australia 4.3%, Thailand 4% (2003)
Reserves of foreign exchange gold
Debt external	$0
Economic aid recipient	$4.3 million (1995)
Currency	Bruneian dollar (BND)
Currency code	BND
Exchange rates	Bruneian dollars per US dollar - 1.7422 (2003), 1.7906 (2002), 1.7917 (2001), 1.724 (2000), 1.695 (1999)
Fiscal year	calendar year

Bruneian Flag Map Of Brunei

Economy Of BruneiBrunei Information - Country Guides

Economy Of Brunei
Brunei Information - Country Guides