::Brunei
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.
GDP (purchasing power parity):
$19.88 billion (2010 est.) country comparison to the world: 126 $19.68 billion (2009 est.)
$20.04 billion (2008 est.)
note: data are in 2010 US dollars
GDP (official exchange rate):
$11.96 billion (2010 est.)
GDP - real growth rate:
1% (2010 est.) country comparison to the world: 179 −1.8% (2009 est.)
−1.9% (2008 est.)
GDP - per capita (PPP):
$50,300 (2010 est.) country comparison to the world: 9 $50,700 (2009 est.)
$52,500 (2008 est.)
note: data are in 2010 US dollars
GDP - composition by sector:
agriculture: 0.7%
industry: 74.1%
services: 25.3% (2008 est.)
Labor force:
188,800 (2008 est.) country comparison to the world: 171
Labor force - by occupation:
agriculture: 4.2%
industry: 62.8%
services: 33% (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%
Inflation rate (consumer prices):
2.7% (2008 est.) country comparison to the world: 84 0.3% (2007 est.)
Commercial bank prime lending rate:
5.5% (31 December 2009 est.) country comparison to the world: 144 5.5% (31 December 2008 est.)
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
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
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.)
Oil - production:
146,000 bbl/day (2009 est.) country comparison to the world: 48
Oil - consumption:
16,000 bbl/day (2009 est.) country comparison to the world: 132
Oil - exports:
152,900 bbl/day (2007) country comparison to the world: 58
Oil - imports:
238 bbl/day (2007 est.) country comparison to the world: 200
Oil - proved reserves:
1.1 billion bbl (1 January 2010 est.) country comparison to the world: 39
Natural gas - production:
13.4 billion cu m (2008 est.) country comparison to the world: 36
Natural gas - consumption:
4.2 billion cu m (2008 est.) country comparison to the world: 65
Natural gas - exports:
9.2 billion cu m (2008 est.) country comparison to the world: 21
Natural gas - imports:
0 cu m (2008 est.) country comparison to the world: 76
Natural gas - proved reserves:
390.8 billion cu m (1 January 2010 est.) country comparison to the world: 35
Current account balance:
$7.024
