BRUNEI

 

IndiaMap.gif (40826 bytes)

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

 

 

Area

 

 

5,765 sq.km

 

 

Capital

 

 

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

 

 

Currency

 

 

Bruneian Dollar (BND)

 

 

Sultan and Prime Minister

 

 

Sir Hassanal Bolkiah (since 5th October 1967)

 

 

Population

 

 

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

 

 

Industries

 

 

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

 

 

Languages

 

 

Malay (official), English, Chinese

 

 

Ethnic groups

 

 

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

 

 

Climate

 

 

Tropical hot, humid, rainy

 

 

Location

 

 

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