Brunei: Trade and Investment Profile
The tiny sultanate of Brunei has a surprisingly sound economy, thanks to a strong fiscal balance sheet due to solid income from oil and gas exports, a stable currency, low unemployment and modest, but steady investment, unlike many of its previously fast-growing, emerging Southeast Asian neighbours that now find themselves mired in economic woes.
As a small and open economy Brunei has been dependent on its extensive hydrocarbon sector (petroleum and natural gas) enabling its population to enjoy one of the highest per capita GDPs in the world.
Crude oil and natural gas production account for 60% of GDP and more than 90% of exports (mostly to Japan and South Korea).
With an eye on the future, the government has encouraged new research and development initiatives in key sectors including energy, environment, food security, healthcare and health services, as well as information and communication technology to ensure the country’s long-term competitiveness.
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