Topic
World
Business | Asia
| Asia
Business |  Brunei
Business
Economy - overview:
This small, well-to-do 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 free education through the university level 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.
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Accommodations
Asia
Hotels, Motels, and Inns
Agriculture - Products
rice, vegetables, fruits, chickens,
water buffalo
Airlines
Airlines
in Asia
Airlines
Worldwide
Airports
Airports
in Asia
Airports
Worldwide
Country Budget
revenues: $4.9 billion
expenditures: $4.2 billion, including
capital expenditures of $1.35 billion (2003 est.)
Currency (code): Bruneian dollar
(BND)
Currency Exchange Rates
Bruneian dollars per US dollar -
1.6902 (2004), 1.7422 (2003), 1.7906 (2002), 1.7917 (2001), 1.724 (2000)
Fiscal Year: calendar year
GDP (Gross Domestic Product)
GDP (purchasing power parity):
$6.842 billion (2003 est.)
GDP - real growth rate:
3.2% (2003 est.)
GDP - per capita: purchasing
power parity - $23,600 (2003 est.)
GDP - composition by sector:
agriculture: 5%
industry: 45%
services: 50% (2001 est.)
Imports / Exports
Exports: $7.7 billion
f.o.b. (2003 est.)
Exports - commodities:
crude oil, natural gas, refined products
Exports - partners:
Japan 38.1%, South Korea 14%, Australia 11.2%, US 8.6%, Thailand 7.9%,
Indonesia 5.9%, China 4.5% (2004)
Imports: $5.2 billion
c.i.f. (2003)
Imports - commodities: machinery
and transport equipment, manufactured goods, food, chemicals
Imports - partners:
Singapore 32.7%, Malaysia 21.2%, UK 8.3%, Japan 7.2% (2004)
Industries
petroleum, petroleum refining, liquefied
natural gas, construction
Investing
Forex,
Foreign Exchange Market: Currency Trading
Labor Force & Unemployment Rate
Labor force: 158,000
note: includes foreign workers and
military personnel; temporary residents make up about 40% of labor force
(2002 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: 3.2%
(2002 est.)
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