Brunei
Brunei – Issues and Development
ECONOMY
Brunei is a developed country that depends mainly on its natural oil and gas fields for its economy.
IMPORTS – Brunei’s main partners of imports are Singapore 26.3%, China 23.1%, UK, 21.3% and M’sia 11.8%.
Brunei’s imports include iron and steel, motor vehicles, machinery and transport equipment, manufactured goods, food, chemicals
EXPORTS - Japan 46.5%, South Korea 15.5%, Australia 9.3%, India 7%, NZ 6.7% (2012)
Brunei’s exports include crude oil, natural gas, garments.
Inflation Rate: Amazingly, Brunei’s inflation rate is only 0.5% in 2012 which makes Brunei the top 7th country in the world with the lowest inflation rate.
Brunei’s inflation rate has decreased from 2.1% in 2011 to 0.5% in 2012.
UNEMPLOYMENT RATE: Brunei’s unemployment rate had decreased slightly from 2.7% in 2010 to 2.6% in 2011. Top 21 compared to the rest of the world.
LABOUR FORCE: agriculture: 4.2%, industry: 62.8%, services: 33% (2008 est.)
INTERESTING FACTS:
The Brunei government provides for all medical services and free education through the university level for Bruneian citizens.
Crude oil and natural gas account for 60% of Brunei’s GDP as well as 90% of its exports.
GOVERNMENT
Brunei’s government type: Malay Islamic Monarchy/ constitutional sultanate
Independence: 1 Jan 1984 (from UK) Legal system: Mixed. English common law and Islamic Law
ISSUES
Disputes - international: per Letters of Exchange signed in 2009, Malaysia in 2010 ceded two hydrocarbon concession blocks to Brunei in exchange for Brunei's sultan dropping claims to the Limbang corridor, which divides Brunei; nonetheless, Brunei claims a maritime boundary extending as far as a median with Vietnam, thus asserting an implicit claim to Louisa Reef
Refugees and internally displaced persons: stateless persons: 21,009 (2012); note - thousands of stateless persons, often ethnic Chinese, are permanent residents and their families have lived in Brunei for generations; obtaining citizenship
ECONOMY
Brunei is a developed country that depends mainly on its natural oil and gas fields for its economy.
IMPORTS – Brunei’s main partners of imports are Singapore 26.3%, China 23.1%, UK, 21.3% and M’sia 11.8%.
Brunei’s imports include iron and steel, motor vehicles, machinery and transport equipment, manufactured goods, food, chemicals
EXPORTS - Japan 46.5%, South Korea 15.5%, Australia 9.3%, India 7%, NZ 6.7% (2012)
Brunei’s exports include crude oil, natural gas, garments.
Inflation Rate: Amazingly, Brunei’s inflation rate is only 0.5% in 2012 which makes Brunei the top 7th country in the world with the lowest inflation rate.
Brunei’s inflation rate has decreased from 2.1% in 2011 to 0.5% in 2012.
UNEMPLOYMENT RATE: Brunei’s unemployment rate had decreased slightly from 2.7% in 2010 to 2.6% in 2011. Top 21 compared to the rest of the world.
LABOUR FORCE: agriculture: 4.2%, industry: 62.8%, services: 33% (2008 est.)
INTERESTING FACTS:
The Brunei government provides for all medical services and free education through the university level for Bruneian citizens.
Crude oil and natural gas account for 60% of Brunei’s GDP as well as 90% of its exports.
GOVERNMENT
Brunei’s government type: Malay Islamic Monarchy/ constitutional sultanate
Independence: 1 Jan 1984 (from UK) Legal system: Mixed. English common law and Islamic Law
ISSUES
Disputes - international: per Letters of Exchange signed in 2009, Malaysia in 2010 ceded two hydrocarbon concession blocks to Brunei in exchange for Brunei's sultan dropping claims to the Limbang corridor, which divides Brunei; nonetheless, Brunei claims a maritime boundary extending as far as a median with Vietnam, thus asserting an implicit claim to Louisa Reef
Refugees and internally displaced persons: stateless persons: 21,009 (2012); note - thousands of stateless persons, often ethnic Chinese, are permanent residents and their families have lived in Brunei for generations; obtaining citizenship