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Brunei, a tiny former British protectorate of about 400,000 nestled between two Malaysian states on Borneo Island, relies on oil and gas exports for two thirds of its economy. But GDP is expected to shrink by 1.5 percent in 2015, the third year of consecutive contraction, according to the Asian Development Bank, mainly due to daily oil output falling by almost half since 2006 and a drop in global crude prices. Brunei‟s economy is still heavily dependent on oil and gas. According to the country‟s Minister of Industry and Primary Resources, YB Pehin Dato Hj Yahya, “the oil and gas sector currently makes up close to 67 percent of our Gross Domestic product (GDP); represents close to 90 percent of the government’s revenues; contributes a staggering 96 percent of our exports; but employs less than five percent of our workforce.”

Brunei's financial regulator plans to launch a securities exchange as early as 2017, a must-have if the Sultanate is to diversify its economy away from oil and catch up to more mature capital. Markets in Southeast Asia. Brunei is among the world's richest countries on a per-capita basis.



At a Glance:  



Country Name



Brunei Darussalam












Bandar Seri Begawan



Government type



Constitutional sultanate (locally known as Malay Islamic Monarchy)



Administrative divisions



4 districts: Belait, Brunei-Muara, Temburong, Tutong



National Holidays



National Day- 23rd February



Fiscal year



1st April – 31st March






Bruneian Dollar (BND)



Sultan and Prime Minister



Sir Hassanal Bolkiah (since 5th October 1967)






429,646 (July 2015 est.)



Net migration rate



2.43 migrant(s)/1,000 population (2015 est.)



GDP (purchasing power parity)



$30.21 billion (2014 est.)



GDP- composition by sector



Agriculture 0.8%

Industry 66.5%

Services 32.8% (2014 est.)



Agriculture- Products



Rice, vegetables, fruits, chickens, water buffalo, cattle, goats, eggs






Petroleum, petroleum refining, liquefied natural gas, Construction.



Major Exports



Crude oil, natural gal, garments



Major Exports - Partners



Japan 41.9%, South Korea 17%, Australia 8.2%, India 6.8%, Indonesia 5.7%, Vietnam 5.7%, Thailand 4.8%, NZ 4.3% (2013)



Major Imports



iron and steel, motor vehicles, machinery and transport equipment, manufactured goods, food, chemicals



Major Importers Partners



Singapore 28.6%, China 22.1%, UK 18.9%, Malaysia 10.8%, US 7.2% (2013)



Natural resources



Petroleum, natural gas, timber






Malay (official), English, Chinese



Ethnic groups



Malay 65.7%, Chinese 10.3%, other indigenous 3.4%, other 20.6% (2011 est.)






Tropical hot, humid, rainy






South-eastern Asia, bordering the South China Sea and Malaysia