Brunei Economy
Brunei (03/05)
The Asian financial crisis in 1997-98, coupled with fluctuations in the price of oil have created uncertainty and instability in Brunei's economy. In addition, the 1998 collapse of the Amedeo Development Corporation, Brunei's largest construction firm whose projects helped fuel the domestic economy, caused the country to slip into a mild recession. ... Brunei's economy is almost totally supported by exports of crude oil and natural gas. The government uses its earnings in part to build up its foreign reserves, which at one time reportedly reached more than $30 billion. The country's wealth, coupled with its membership in the United Nations, Association of Southeast Asian Nations (ASEAN), the Asia Pacific Economic Cooperation (APEC) forum, and the Organization of the Islamic Conference give it an influence in the world disproportionate to its size. ... [Read More]
Background Notes Archive - East Asia and the Pacific
Background Notes: Brunei, October 1998Released by the Bureau of East Asian and Pacific AffairsU.S. Department of StateOFFICIAL NAME: Brunei DarussalamPROFILEGeographyArea: 5,769 sq. km. (2,227 sq. mi.), slightly larger than Delaware.Cities: Capital--Bandar Seri Begawan.Terrain: East--flat coastal plains with beaches; west--hilly with a few mountain ridges.Climate: Equatorial; high temperatures, humidity, and rainfall.PeopleNationality: Noun and adjective--Bruneian(s).Population (1998 est.): 320,000.Annual growth rate: 2.5%.Ethnic groups: Malay, Chinese, other indigenous.Religion: Islam.Languages: Malay, English, Chinese; Iban and other indigenous dialects.Education: Years compulsory--9. Literacy--90%. (1996)Health: Life expectancy--74 years. Infant mortality rate(1996)--6.9/1,000. GovernmentType: Sultanate.Independence: January 1, 1984.Constitution: 1959.Branches: Executive--Sultan is both head of state and prime minister, presiding over an 11-member cabinet. Judicial (ba ... [Read More]
Brunei
The country's large oil and natural gas reserves, coupled with its population of 341,000, gave it a high per capita gross domestic product of approximately $12,500. The Government used its substantial oil and gas revenues and investment income to provide a wide range of services and benefits to citizens, including free schooling and medical care, subsidized housing, and jobs. During the year, the non-oil and gas component of the economy suffered its fifth year of stagnation. ... [Read More]
Department of State Washington File: Text: U.S. Signs Bilateral Trade Deal with Brunei Darussalam
"This TIFA will enhance trade between our nations and demonstrates our commitment to supporting Brunei Darussalam as it seeks to diversify its economy," Zoellick said. ... "This TIFA will enhance trade between our nations and demonstrates our commitment to supporting Brunei Darussalam as it seeks to diversify its economy," said Zoellick. "We are pleased with Brunei Darussalam's positive response to President Bush's Enterprise for ASEAN Initiative, as demonstrated by their quick action to conclude a TIFA. We look forward to working closely with Brunei Darussalam to further strengthen our economic relationship bilaterally and with ASEAN." ... [Read More]
Brunei
The country's large oil and natural gas reserves, coupled with its population of 345,000, give it a high per capita gross domestic product of over $14,000. The worldwide recovery in oil prices that began in 1998 helped to restore the country's cash flow; however, the economy still continued to feel the effects of the Amedeo Development Corporation's 1997-98 collapse. The Government accused the corporation's head, the Sultan's brother Prince Jefri, of misappropriating $16 billion of the country's foreign reserves. In October 2001, the Government set up Global Evergreen Pte Ltd., which by mid-2002 had reached a satisfactory settlement with all of Amedeo's creditors. ... [Read More]
Background Notes Archive - East Asia and the Pacific
U.S. Department of State Background Notes: Brunei, November 1995 Bureau of Public Affairs November 1995 Official Name: Brunei Darussalam PROFILE Geography Area: 5,769 sq. km. (2,227 sq. mi.), slightly larger than Delaware. Cities: Capital--Bandar Seri Begawan. Terrain: East--flat coastal plains with beaches; west--hilly with a few mountain ridges. Climate: Equatorial; high temperatures, humidity, and rainfall. People Nationality: Noun and adjective--Bruneian(s). Population (1994): 285,000. Annual growth rate (1994): 2.7%. Ethnic groups: Malay, Chinese, other indigenous. Religion: Islam. Languages: Malay, English, Chinese; Iban and other indigenous dialects. Education: Years compulsory--nine. Literacy--77%. Health: Life expectancy--71 years. Infant mortality rate--25/1,000. Government Type: Sultanate. Independence: January 1, 1984. Constitution: 1959. Branches: Executive--Sultan is both head of state and prime minister, presiding over an 11-member cabinet. Judici ... [Read More]
Background Notes Archive - East Asia and the Pacific
U.S. Department of State Background Notes: Brunei, November 1997 Released by the Bureau of East Asian and Pacific Affairs.Official Name: Brunei Darussalam PROFILE Geography Area: 5,769 sq. km. (2,227 sq. mi.), slightly larger than Delaware.Cities: Capital--Bandar Seri Begawan. Terrain: East--flat coastal plains with beaches; west--hilly with a few mountain ridges. Climate: Equatorial; high temperatures, humidity, and rainfall.People Nationality: Noun and adjective--Bruneian(s). Population (1996): 305,100. Annual growth rate (1996): 3.1%. Ethnic groups: Malay, Chinese, other indigenous. Religion: Islam. Languages: Malay, English, Chinese; Iban and other indigenous dialects. Education: Years compulsory--nine. Literacy--88.2%. (1995 est.)Health: Life expectancy--71 years. Infant mortality rate--23.8/1,000.(1997)Government Type: Sultanate. Independence: January 1, 1984. Constitution: 1959. Branches: Executive--Sultan is both head of state and prime minister, presid ... [Read More]
US Department Of State Post Report
Brunei is working to diversify its economy to reduce its dependency on oil and gas production. Proposals the government is promoting include an international financial center, a regional information technology center, downstream oil and gas facilities, and tourism. Transportation AutomobilesLast Updated: 12/2/2003 10:25 AM ... [Read More]
Brunei
The country's large oil and natural gas reserves, coupled with its population of 358,000, gave it a per capita gross domestic product of approximately $13,300. The Government used its substantial oil and gas revenues and investment income to provide its citizens a wide range of services and benefits that included free schooling and medical care, subsidized housing, and jobs. During the year, the non-oil and gas component of the economy suffered its 6th year of stagnation. Foreign workers made up approximately 40 percent of the labor force. ... [Read More]
Key Achievements from APEC Summit, Brunei, November 15-16
In Brunei, President Clinton and the other APEC leaders endorsed an ambitious APEC agenda for the region in the areas of trade, investment, information technology, and social programs. Key achievements included: Agreement to finalize a negotiating agenda for the new WTO trade Round as soon as possible and launch the Round in 2001; Support for creation of a task force in Geneva to study how WTO rules apply to e-commerce; A robust action agenda for the New Economy to create more digital opportunity in the region, including a plan for public-private demonstration projects in specific areas of e-commerce to follow-up on APEC's Readiness work; a knowledge network incorporating private and public sector IT training opportunities and a project aimed at assuring use of legitimately licensed software in government offices; A multilateral Open Skies air services agreement among five APEC economies, the world's first such arrangement, which will be open to accession by all ... [Read More]
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