Brunei - Economy
How is the economy of Brunei? Based on the information we have, Brunei has a almost exclusively an oil and gas economy; high income country; expansive and robust welfare system; the majority of the population works for the government; promulgating a nationalized halal brand; considering establishment of a bond market and stock exchange. Key agricultural products in this country include: chicken, eggs, fruits, vegetables, rice, bananas, beans, cucumbers/gherkins, pineapples, beef (2023).
More about the economy of Brunei
| Labor force | 233,000 (2023 est.) |
|---|---|
| Industrial production growth rate | -1.43% (2023 est.) |
| Industries | petroleum, petroleum refining, liquefied natural gas, construction, agriculture, aquaculture, transportation |
| Population below poverty line | |
| Taxes and other revenues | 18.5% (of GDP) (2017 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Bruneian dollars (BND) per US dollar - |
| Exchange rates 2023 | 1.343 (2023 est.) |
| Exchange rates 2022 | 1.379 (2022 est.) |
| Exchange rates 2021 | 1.344 (2021 est.) |
| Exchange rates 2020 | 1.38 (2020 est.) |
| Exchange rates 2019 | 1.364 (2019 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $4.483 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $5.035 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $4.982 billion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | $1.944 billion (2023 est.) |
| Current account balance 2022 | $3.264 billion (2022 est.) |
| Current account balance 2021 | $1.57 billion (2021 est.) |
| Public debt | |
| Public debt 2017 | 2.8% of GDP (2017 est.) |
| Budget | |
| Revenues | $1.058 billion (2020 est.) |
| Expenditures | $3.189 billion (2020 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 0.01% of GDP (2023 est.) |
| Remittances 2022 | 0.01% of GDP (2022 est.) |
| Remittances 2021 | 0.01% of GDP (2021 est.) |
| Imports | |
| Imports 2023 | $9.081 billion (2023 est.) |
| Imports 2022 | $10.106 billion (2022 est.) |
| Imports 2021 | $9.219 billion (2021 est.) |
| Imports (partners) | Malaysia 23%, UAE 10%, China 10%, UK 10%, Australia 6% (2023) |
| Comodities Imports force | crude petroleum, gold, refined petroleum, coal, cars (2023) |
| Exports | |
| Imports 2023 | $9.081 billion (2023 est.) |
| Imports 2022 | $10.106 billion (2022 est.) |
| Imports 2021 | $9.219 billion (2021 est.) |
| Exports (partners) | Australia 21%, Japan 17%, China 17%, Singapore 16%, Malaysia 6% (2023) |
| Comodities Exports force | refined petroleum, natural gas, crude petroleum, hydrocarbons, fertilizers (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $35.26 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $34.771 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $35.347 billion (2021 est.) |
| GDP (official exchange rate) | $15.128 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $76,800 (2023 est.) |
| Real GDP per capita 2022 | $76,400 (2022 est.) |
| Real GDP per capita 2021 | $78,200 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 1.2% (2023 est.) |
| Industry | 61.8% (2023 est.) |
| Services | 38.8% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 27.6% (2023 est.) |
| Government consumption | 22.8% (2023 est.) |
| Investment in fixed capital | 29.4% (2023 est.) |
| Investment in inventories | 0.2% (2023 est.) |
| Exports of goods and services | 76.5% (2023 est.) |
| Imports of goods and services | -60% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 5.27% (2023 est.) |
| Unemployment rate 2022 | 5.19% (2022 est.) |
| Unemployment rate 2021 | 4.91% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 18.6% (2023 est.) |
| Male | 16.2% (2023 est.) |
| Female | 22.3% (2023 est.) |
All Important Facts about Brunei
Want to know more about Brunei? Check all different factbooks for Brunei below.
