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Brunei Economy 2010
http://www.workmall.com/wfb2010/brunei/brunei_economy.html
SOURCE: 2010 CIA WORLD FACTBOOK AND OTHER SOURCES

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Page last updated on January 15, 2010

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. Brunei's leaders are concerned that steadily increased integration into the world economy will undermine internal social cohesion. 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):
$19.44 billion (2009 est.)

$19.81 billion (2008 est.)
$20.2 billion (2007 est.)
note: data are in 2009 US dollars

GDP (official exchange rate):
$14.7 billion (2009 est.)

GDP - real growth rate:
-1.9% (2009 est.)

-1.9% (2008 est.)
0.2% (2007 est.)

GDP - per capita (PPP):
$50,100 (2009 est.)

$52,000 (2008 est.)
$53,900 (2007 est.)
note: data are in 2009 US dollars

GDP - composition by sector:
agriculture: 0.7%
industry: 75%
services: 24.3% (2005 est.)

Labor force:
188,800 (2008 est.)

Labor force - by occupation:
agriculture: 4.5%
industry: 63.1%
services: 32.4% (2003 est.)

Unemployment rate:
3.7% (2008 est.)

4% (2006)

Population below poverty line:
NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Budget:
revenues: $6.889 billion
expenditures: $4 billion (2008 est.)

Inflation rate (consumer prices):
0.3% (2007 est.)

Commercial bank prime lending rate:
5.5% (31 December 2008)

5.5% (February 2009)

Stock of money:
$3.046 billion (31 December 2008)

$2.674 billion (31 December 2007)

Stock of quasi money:
$4.551 billion (31 December 2008)

$4.258 billion (31 December 2007)

Stock of domestic credit:
$1.274 billion (31 December 2008)

$2.38 billion (31 December 2007)

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:
1.8% (2006 est.)

Electricity - production:
3.091 billion kWh (2007 est.)

Electricity - consumption:
2.926 billion kWh (2007 est.)

Electricity - exports:
0 kWh (2008 est.)

Electricity - imports:
0 kWh (2008 est.)

Oil - production:
157,400 bbl/day (2008 est.)

Oil - consumption:
15,000 bbl/day (2008 est.)

Oil - exports:
207,500 bbl/day (2007 est.)

Oil - imports:
238 bbl/day (2007 est.)

Oil - proved reserves:
1.1 billion bbl (1 January 2009 est.)

Natural gas - production:
13.4 billion cu m (2008 est.)

Natural gas - consumption:
4.2 billion cu m (2008 est.)

Natural gas - exports:
9.2 billion cu m (2008 est.)

Natural gas - imports:
0 cu m (2008 est.)

Natural gas - proved reserves:
390.8 billion cu m (1 January 2009 est.)

Current account balance:
$7.101 billion (2007 est.)

Exports:
$8.25 billion (2007 est.)

$6.767 billion (2006)

Exports - commodities:
crude oil, natural gas, garments

Exports - partners:
Japan 40.8%, Indonesia 21.6%, South Korea 15.4%, Australia 10% (2008)

Imports:
$2.055 billion (2007 est.)

$2 billion (2006 est.)

Imports - commodities:
machinery and transport equipment, manufactured goods, food, chemicals

Imports - partners:
Singapore 36.5%, Malaysia 19%, Japan 7.7%, China 5.5%, Thailand 5%, US 4.7%, UK 4.7% (2008)

Debt - external:
$0 (2005 est.)

Exchange rates:
Bruneian dollars (BND) per US dollar - NA (2007), 1.5886 (2006), 1.6644 (2005), 1.6902 (2004), 1.7422 (2003)


NOTE: The information regarding Brunei on this page is re-published from the 2010 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Brunei Economy 2010 information contained here. All suggestions for corrections of any errors about Brunei Economy 2010 should be addressed to the CIA.



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