Economy - overview This small, wealthy economy is a mixture of foreign and domestic entrepreneurship, government regulation and welfare measures, and village tradition. It is almost totally supported by exports of crude oil and natural gas, with revenues from the petroleum sector accounting for perhaps 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 food and housing. The government is beginning to show progress on its basic policy of diversifying the economy away from oil and gas. Brunei's leaders are concerned that steadily increased integration in the world economy will undermine internal social cohesion.

GDP purchasing power parity - $5.4 billion (1997 est.)

GDP - real growth rate 3.5% (1997 est.)

GDP - per capita purchasing power parity - $18,000 (1997 est.)

GDP - composition by sector
agriculture: 5%
industry: 46%
services: 49% (1996 est.)

Inflation rate - consumer price index 2% (1997 est.)

Labor force
total: 144,000 (1995 est.); note - includes foreign workers and military personnel
by occupation: government 48%, production of oil, natural gas, services, and construction 42%, agriculture, forestry, and fishing 4%, other 6% (1986 est.)
note: temporary residents make up 41% of labor force (1991)

Unemployment rate 4.8% (1994 est.)

Budget
revenues: $2.5 billion
expenditures: $2.6 billion, including capital expenditures of $768 million (1995 est.)

Industries petroleum, petroleum refining, liquefied natural gas, construction

Industrial production growth rate 4% (1997 est.)

Electricity - capacity 646,000 kW (1997 est.)

Electricity - production 1.26 billion kWh (1995)

Electricity - consumption per capita 4,311 kWh (1995)

Agriculture - products rice, cassava (tapioca), bananas; water buffalo

Exports
total value: $2.62 billion (f.o.b., 1996 est.)
commodities: crude oil, liquefied natural gas, petroleum products
partners: ASEAN 31%, Japan 27%, South Korea 26%, UK, Taiwan (1996 est.)

Imports
total value: $2.65 billion (c.i.f., 1996 est.)
commodities: machinery and transport equipment, manufactured goods, food, chemicals
partners: Singapore 29%, UK 19%, US 13%, Malaysia 9%, Japan 5% (1994 est.)

Debt - external $0

Economic aid $NA

Currency 1 Bruneian dollar (B$) = 100 cents

Exchange rates Bruneian dollars (B$) per US$1 - 1.7533 (January 1998), 1.4848 (1997), 1.4100 (1996), 1.4174 (1995), 1.5274 (1994), 1.6158 (1993); note - the Bruneian dollar is at par with the Singapore dollar

Fiscal year calendar year

NOTE: The information regarding Brunei on this page is re-published from the 1998 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Brunei Economy 1998 information contained here. All suggestions for corrections of any errors about Brunei Economy 1998 should be addressed to the CIA.