Countries
Brunei
Key Economic Indicators
$41.59 billion
$89,879
4.05%
-0.39%
5.28%
$15.463 billion (2024 est.)
<strong>note:</strong> central government debt as a % of GDP
$2.23 billion
Economic Overview
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
All Economic Data
Agricultural products
chicken, eggs, fruits, vegetables, rice, bananas, beans, cucumbers/gherkins, pineapples, beef (2023)
note:
<b>note:</b> top ten agricultural products based on tonnage
Budget
Expenditures:
$3.189 billion (2020 est.)
Revenues:
$1.058 billion (2020 est.)
Currency
code:
BND, SGD
name:
Brunei dollar (BND) [$], Singapore dollar (SGD) [$]
Current account balance
$2.23 billion
Current account balance 2022:
$3.256 billion (2022 est.)
Current account balance 2023:
$1.944 billion (2023 est.)
Current account balance 2024:
$2.23 billion (2024 est.)
Note:
<b>note:</b> balance of payments - net trade and primary/secondary income in current dollars
Exchange rates
Currency:
Bruneian dollars (BND) per US dollar -
Exchange rates 2020:
1.38 (2020 est.)
Exchange rates 2021:
1.344 (2021 est.)
Exchange rates 2022:
1.379 (2022 est.)
Exchange rates 2023:
1.343 (2023 est.)
Exchange rates 2024:
1.336 (2024 est.)
Exports
$11.39 billion
Exports 2022:
$14.405 billion (2022 est.)
Exports 2023:
$11.573 billion (2023 est.)
Exports 2024:
$11.483 billion (2024 est.)
Note:
<b>note:</b> balance of payments - exports of goods and services in current dollars
Exports - commodities
refined petroleum, natural gas, crude petroleum, hydrocarbons, fertilizers (2023)
note:
<b>note:</b> top five export commodities based on value in dollars
Exports - partners
Australia 21%, Japan 17%, China 17%, Singapore 16%, Malaysia 6% (2023)
note:
<b>note:</b> top five export partners based on percentage share of exports
Foreign direct investment
net inflows:
$29.06 million
GDP - composition, by end use
Exports of goods and services:
74.3% (2024 est.)
Government consumption:
23% (2024 est.)
Household consumption:
28.5% (2024 est.)
Imports of goods and services:
-58.9% (2024 est.)
Investment in fixed capital:
28.2% (2024 est.)
Investment in inventories:
0.2% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to rounding or gaps in data collection
GDP - composition, by sector of origin
Agriculture:
1.2% (2024 est.)
Industry:
61.7% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Services:
38.7% (2024 est.)
GDP (official exchange rate)
$15.463 billion (2024 est.)
note:
<b>note:</b> data in current dollars at official exchange rate
GDP per capita (nominal)
$33,153
GNI (gross national income)
$15.83 billion
GNI per capita
$36,020
Gross domestic investment
28 % of GDP
Imports
$8.95 billion
Imports 2022:
$10.099 billion (2022 est.)
Imports 2023:
$9.077 billion (2023 est.)
Imports 2024:
$9.11 billion (2024 est.)
Note:
<b>note:</b> balance of payments - imports of goods and services in current dollars
Imports - commodities
crude petroleum, gold, refined petroleum, coal, cars (2023)
note:
<b>note:</b> top five import commodities based on value in dollars
Imports - partners
Malaysia 23%, UAE 10%, China 10%, UK 10%, Australia 6% (2023)
note:
<b>note:</b> top five import partners based on percentage share of imports
Industrial production growth rate
5.7% (2024 est.)
note:
<b>note:</b> annual % change in industrial value added based on constant local currency
Industries
petroleum, petroleum refining, liquefied natural gas, construction, agriculture, aquaculture, transportation
Inflation rate (consumer prices)
-0.39%
Inflation rate (consumer prices) 2022:
3.7% (2022 est.)
Inflation rate (consumer prices) 2023:
0.4% (2023 est.)
Inflation rate (consumer prices) 2024:
-0.4% (2024 est.)
Note:
<b>note:</b> annual % change based on consumer prices
Labor force
233,500 (2024 est.)
note:
<b>note:</b> number of people ages 15 or older who are employed or seeking work
total:
237,763 persons
Labor force - by occupation
agriculture:
1.2%
industry:
20.39%
services:
78.41%
Public debt
Note:
<strong>note:</strong> central government debt as a % of GDP
Public debt 2017:
2.8% of GDP (2017 est.)
Real GDP (purchasing power parity)
$41.59 billion
Note:
<b>note:</b> data in 2021 dollars
Real GDP (purchasing power parity) 2022:
$34.771 billion (2022 est.)
Real GDP (purchasing power parity) 2023:
$35.163 billion (2023 est.)
Real GDP (purchasing power parity) 2024:
$36.64 billion (2024 est.)
Real GDP growth rate
4.05%
Note:
<b>note:</b> annual GDP % growth based on constant local currency
Real GDP growth rate 2022:
-1.6% (2022 est.)
Real GDP growth rate 2023:
1.1% (2023 est.)
Real GDP growth rate 2024:
4.2% (2024 est.)
Real GDP per capita
$89,879
Note:
<b>note:</b> data in 2021 dollars
Real GDP per capita 2022:
$76,400 (2022 est.)
Real GDP per capita 2023:
$76,600 (2023 est.)
Real GDP per capita 2024:
$79,200 (2024 est.)
Remittances
Note:
<b>note:</b> personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2021:
0% of GDP (2021 est.)
Remittances 2022:
0% of GDP (2022 est.)
Remittances 2023:
0% of GDP (2023 est.)
Reserves of foreign exchange and gold
$4.41 billion
Note:
<b>note:</b> holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2022:
$5.035 billion (2022 est.)
Reserves of foreign exchange and gold 2023:
$4.483 billion (2023 est.)
Reserves of foreign exchange and gold 2024:
$4.414 billion (2024 est.)
Unemployment rate
5.28%
Note:
<b>note:</b> % of labor force seeking employment
Unemployment rate 2022:
5.2% (2022 est.)
Unemployment rate 2023:
5.2% (2023 est.)
Unemployment rate 2024:
5.2% (2024 est.)
Youth unemployment rate (ages 15-24)
Female:
21.6% (2024 est.)
Male:
16.5% (2024 est.)
Note:
<b>note:</b> % of labor force ages 15-24 seeking employment
Total:
18.5% (2024 est.)
Economic Rankings
GDP per Capita
#9
Unemployment Rate
#97
Reserves
#103
Exports
#103
GDP Growth Rate
#123
Imports
#124
GDP (PPP)
#136
GDP (Nominal)
#140
Inflation Rate
#176
Quick Facts
Industries
petroleum, petroleum refining, liquefied natural gas, construction, agriculture, aquaculture, transportation
Agricultural products
chicken, eggs, fruits, vegetables, rice, bananas, beans, cucumbers/gherkins, pineapples, beef (2023)
Labor force
233,500 (2024 est.)
Exports - partners
Australia 21%, Japan 17%, China 17%, Singapore 16%, Malaysia 6% (2023)
Imports - partners
Malaysia 23%, UAE 10%, China 10%, UK 10%, Australia 6% (2023)
Exchange rates
Bruneian dollars (BND) per US dollar -
Explore More
Our Partners
Trusted partner applications powering global data and insights