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Brunei Business Report

General information
Source: The World Factbook - Central Intelligence Agency
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Population
450,565 (July 2018 est.)
GDP (PPP)
$33.87 billion (2017 est.)

Crude oil and natural gas production account for approximately 65% of GDP and 95% of exports.

GDP growth rate
1.3% (2017 est.)

The Bruneian Government wants to diversify its economy away from hydrocarbon exports to other industries such as information and communications technology and halal manufacturing, permissible under Islamic law.

GDP (PPP) per capita
$78,900 (2017 est.)

Per capita GDP is among the highest in the world, and substantial income from overseas investment supplements income from domestic hydrocarbon production.

Local currency
Bruneian dollar (BND)

Stable currency, though it experienced a slight depreciation of about 10% in the wake of the oil price crash.

Financial stability (Public debt)
2.8% of GDP (2017 est.)

Brunei boasts a well-educated, largely English-speaking population; excellent infrastructure; and a stable government intent on attracting foreign investment.

Inflation
-0.2% (2017 est.)

Low.

Language
Malay (Bahasa Melayu) (official), English, Chinese dialects

English is widely spoken by a majority of the population in Brunei, though some people have only a rudimentary knowledge of the language.

Corruption perception index (Source: Transparency International)
31/180

Low to medium level of corruption.

Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT

N/A
Corporate Tax

N/A
Duties

N/A

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