Economy of Brunei
Population: 0.43 M (2018)
GDP per Capita: 31,628 USD (2018)
13,570 M.

GDP USD

(2018)

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7,050 M.

EXPORTS USD

(2018)

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5,690 M.

IMPORTS USD

(2018)

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2.59 %

PUBLIC DEBT

(2018)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 0.05 % (2018)
GDP of 2010 USD USD 13.50 B. (2018)
GDP Current USD USD 13.57 B. (2018)
GDP per Capita Current USD USD 31,628 (2018)
GDP per capita, PPP USD 71,802 (2018)
GDP per Capita, 2010 USD USD 31,437 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 24.14 % (2018)
Government Spending USD 3.28 B. (2018)
Government Debt % GDP 2.59 % (2018)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 179.28 (2018)
Trade Openness 93.90 % (2018)
Exports of Goods and Services % GDP 51.93 % (2018)
Exports Goods & Services USD 7.05 B. (2018)
Exports Annual Growth 2.85 % (2018)
Imports as % GDP 41.96 % (2018)
Total Imports USD 5.69 B. (2018)
Foreign Direct Investment % GDP 3.77 % (2018)
Foreign Direct Investment USD 0.51 B. (2018)
Current Account Balance % GDP USD 7.87 % (2018)
Current Account Balance USD 1.07 B. (2018)
Trade Balance % GDP % (2018)
Trade Balance USD 1.36 B. (2018)
Foreign Exchange Reserves incl Gold USD 3.41 B. (2018)
Remittances % GDP USD 3.41 B. (2018)
Remittances USD 3.41 B. (2018)
Balance of Payments USD 5,063 M. (2016)

Labor Market

Indicator Value
Labor Force 0.22 M. (2019)
Unemployment Rate 9.24 % (2019)
Unemployment Rate Females 9.91 % (2019)
Unemployment Rate Males 8.52 % (2019)
Youth Unemployment (ages 15-24) 29.79 % (2019)
Labor Force Participation Rate 64.88 % (2019)
Labor Force (Percent Female) 42.81 % (2019)
Female Labor Force Participation Rate 58.07 % (2019)
Male Labor Force Participation Rate 71.30 % (2019)
Dependent People 38.70 % (2018)

Agriculture Sector

Indicator Value
Forest Area 72.10 % (2016)
Forest Area km² 3,800 km² (2016)
Agricultural Land 2.73 % (2016)
Agricultural Land km² 144 km² (2016)
Employment 1.32 % (2019)
Value added % GDP 1.02 % (2018)
Agriculture Value added USD 0.14 B. (2018)
Crop Production Index 96.90 (2016)
Precipitation 2,722 mm (2014)
Arable Land 1 % (2016)
Cereal Yield 2,554 kg/hectare (2017)
Food production index 170 (2016)
Rural Population 22 % (2018)
Fertilizer use of Arable Land 142 kg/hectare (2016)
Livestock Production Index 187 (2016)
Economy of Brunei

According to the World Bank and its latest published data, the economy of the Brunei presents a growth rate of 0.05 % (2018) to the previous year.

With a population that reaches 0.43 M (2018) and a gross domestic product of USD 13.57 B. (2018), it translates a Gross Domestic Product per Capita of USD 31,628 placing its inhabitants on the threshold of an High-income country (according to the World Bank's updated classification).

Brunei also has a workforce of 0.22 M. (2019) with an unemployment rate of 9.24 % (2019), where women represent 9.91 % (2019) and men 8.52 % (2019), the unemployment rate for young people between 15-24 years old stood at 29.79 % (2019). The total number of dependent people stands at 38.70 % (2018).

The central government spent 24.14 % (2018) of its gross domestic product that year, which in absolute terms is USD 3.28 B. (2018). Its consolidated public debt reached 2.59 of its GDP, not exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Brunei exported USD 7.05 B. (2018), which represents 51.93 % (2018) of its gross domestic product, in that same sense its imports reached USD 5.69 B. (2018) with a direct foreign investment of USD 0.51 B. (2018).

Brunei has a forest area of 3,800 km² (2016), which represents 72.10 % (2016) of its total area, an average rainfall of 2,722 mm (2014) per year and a population of 22 % (2018) living in rural areas. With a total area of 144 km² (2016) available for agriculture and 1.32 % (2019) of its employments, the agricultural sector contributes to the economy of the Brunei about USD 0.14 B. (2018) (1.02 % (2018) of its GDP).