The sultanate of Brunei Darussalam is a young nation-state, having gained independence from the British only in 1984. The country lies at the northwestern corner of Borneo Island. Bandar Seri Begawan is its capital.
Brunei Darussalam’s economy is dominated by the oil and liquefied natural gas industries. The country is the third largest producer of oil in Southeast Asia and the fourth largest producer of natural gas in the world. Brunei Darussalam’s exports consist of three major commodities: crude oil, liquefied natural gas and petroleum products. Exports are mostly to Japan, Republic of Korea, the United States and ASEAN country.
The second most important sector is the construction industry. This is mainly due to the increased investment by the Government in development projects and programs of the five-year National Development Plan.
Brunei Darussalam has entered a new phase of development in its drive towards economic diversification. The contribution from the non-oil and gas-based sectors of economy, as a contribution to GDP, has steadily increased since the early 1990s. The private sector (other than the oil and natural gas sector) contributed 24.31%, compared to 46.43% of the oil and natural gas sector. The number of private sector establishments (registered) has also increased.
Brunei Darussalam offers land resources and a variety of facilities throughout its four districts, including 12 industrial sites already developed. Extensive areas for agro-forestry and aquaculture are also available. Rental terms and tenancy agreements are competitive, and the sites offer a range of facilities, infrastructure and resources.
Brunei Darussalam gives priority to sustainable management of the natural environment. All its development sites are free from pollution and are ecologically balanced.
Brunei Darussalam has a rich culture and royal heritage dating back some 500 years. Local attractions include the world’s largest water village, Istana Nurul Imam, and the Ulu Temburong National Park.
||Bandar Seri Begawan|
|Land Area (sq. km.)||5,765 sq km|
|GDP (in B$ billion)||18.9|
|GDP Growth Rate||3.8%|
|GDP Per Capita (B$)||49,400|
|Imports (in B$ billion)||2.481 *|
|Exports (in B$ billion)
|Major Import Items||Food, manufactured goods, machinery and transport equipment|
|Major Export Items||Oil & Gas (LNG), Garments|
|Major Trading Partners||Japan, South Korea, USA, ASEAN|
From Brunei Darussalam Key Indicators 2006 – Figures for 2006
* Figures are for 2005