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Country Overview


 

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Brunei Administration
Brunei Darussalam is an independent sovereign Sultanate governed on the basis of a written constitution. His Majesty, Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah, Sultan and Yang Di-Pertuan of Brunei Darussalam, the 29th monarch in succession to the throne, is the Prime Minister as well as the Defence and Finance Minister and Head of Religion of Brunei Darussalam.

As Sultan, His Majesty is advised and assisted by 5 constitutional bodies, namely, the Council of Succession, the Privy Council, the Council of Cabinet Ministers, Religious Council and the State Legislative Council. The State
Legislative Council which was reconvened in September 2004, consists of Cabinet Ministers, local dignitaries, people who achieved distinctions in business, religion and society as well as district representatives.

Government Ministries

  • Prime Minister’s Office
  • Ministry of Defence
  • Ministry of Finance
  • Ministry of Foreign Affairs and Trade
  • Ministry of Education
  • Ministry of Religious Affairs
  • Ministry of Industry and Primary Resources
  • Ministry of Communications
  • Ministry of Health
  • Ministry of Home Affairs
  • Ministry of Development
  • Ministry of Culture, Youth and Sports

Economy

Oil and gas sector has been the major contributor to Brunei Darussalam's economy since its discovery in 1929. Brunei is the third-largest oil producer in Southeast Asia, averaging about 180,000 barrels per day (29,000 m3/d), and the ninth-largest producer of liquefied natural gas in the world.
Brunei is also ranked as having one of the highest rates of macroeconomic stability in the world and the highest in Asia.
 
Recent Economic Performance
• Overall Trend
Total trade in 2009 decreased by 25.1 per cent from BND18,589.2 million in 2008 to BND13,923.6 million. This was primarily due to decreases in total exports and total imports by 30.2 per cent from BND14,941.9 million to BND10,431.7 million and by 4.3 per cent from BND3,647.3 million to BND3,491.9 million respectively.
 
Surplus of total trade declined by 38.6 per cent from BND11,294.6 million to BND6,939.9 million during the same period. Exports were higher, far exceeding the decline in imports.
 
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• Export Performance
Exports in oil decreased by 37.4 per cent from BND 7,948.5 million to BND4,974.5 million and Liquefied Natural Gas (LNG) declined by 24.3 per cent from BND6,666.8 million to BND5,049.0 million. Exports of garments decreased by 53.1 per cent from BND 121.0 million to BND56.7 million.
 
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• Composition of Exports
Exports in LNG accounted for 48.4 per cent of total exports followed by oil at 47.7 per cent and garments at 0.5 per cent. The remaining 3.4 per cent mainly comprised of Others.
 
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• Export Market
Japan remained the dominant export market absorbing 46.1 per cent of total exports followed by Republic of Korea (11.6 per cent), Indonesia (10.8 per cent), India (8.6 per cent), Australia (7.3 per cent), New Zealand (4.4 per cent), China (4.0 per cent), Singapore (2.6 per cent), Thailand (1.9 per cent), Malaysia (1.6 per cent) and USA (0.6 per cent).
 
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Exports to ASEAN as a whole accounted 17.1 per cent of total exports, European Union for 0.2 per cent and the rest of the world accounted 82.7 per cent.
 
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Exports growth in 2009 was lower than in 2008. Exports to Australia declined by 50.8 per cent followed by ASEAN at 50.4 per cent. Republic of Korea (45.5 per cent), USA (31.6 per cent), Japan (25.5 per cent) and European Union (16.0 per cent). However, exports to the remaining major export trading partners increased. China increased by 647.5 per cent while India and New Zealand increased by 86.6 per cent and 1.0 percent respectively.
 
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• Import Performance
Imports declined by 4.3 per cent from BND 3,647.3 million to BND 3,491.9 million. This was mainly due to decreases in imports of Animal and vegetable oils, fats and waxes by 26.4 per cent, Machinery and transport equipment by 13.5 per cent, Food and live animals by 6.1 per cent and Manufactured goods 2.5 per cent.
 
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• Composition of Imports
Machinery and transport equipment accounted the highest share of the total imports at 39.6 per cent valued at BND1,382.6 million. Manufactured goods comprised of 22.4 per cent (BND781.1 million), Food and live animals at 12.1 per cent (BND422.5 million), and Miscellaneous manufactured articles at 10.2 per cent (BND 357.6 million), Chemicals and related products at 8.0 per cent (BND278.8 million) and Mineral fuels, lubricants and related materials at 3.2 per cent (BND112.4 million) . The remaining 4.4 per cent accounted for Others.
 
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• Import Market
Imports from ASEAN rose by 3.6 per cent in 2009, attributed by imports from Singapore which increased by 20.0 per cent. Meanwhile imports from other ASEAN member countries namely Indonesia (13.3 per cent), Malaysia (0.7 per cent), Thailand (28.0 per cent) and other ASEAN accumulated 48.9 per cent decline. European Union decreased by (5.3 per cent), China (19.0 per cent), Hong Kong (64.8 per cent), Republic of Korea (36.5 per cent), Taiwan (12.6 per cent) and USA (9.4 per cent). Imports from other major trading partners increased where United Kingdom (3.2 per cent), Australia (4.4 per cent) and Japan (0.8 per cent).
 
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Brunei Darussalam's total imports in 2009 declined compared to 2008. Singapore contributed (25.6 per cent), Malaysia (19.4 per cent), USA (13.0 per cent), Japan (8.9 per cent), China (5.8 per cent), Thailand (3.9 per cent), United Kingdom (2.7 per cent), Indonesia and Germany (2.4 per cent), Republic of Korea (2.1 per cent), Taiwan (1.6 per cent), Australia (1.5 per cent) and Hong Kong (0.9 per cent).
 
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Overall, the import market in 2009 showed that ASEAN contributed 51.8 per cent to the total imports whereas European Union and Rest of the world shared 10.3 per cent and 37.9 per cent respectively.
 
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Source:
Department of Economic Planning and Development,
Prime Minister's Office
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