Brunei
Description of Brunei
Brunei, a small yet economically significant country nestled on the island of Borneo in Southeast Asia, offers a unique blend of rich cultural heritage and modern development. Known for its abundant reserves of oil and natural gas, Brunei has experienced rapid economic growth and has one of the highest standards of living in Asia. Its strategic location, stable political environment, and strong government-led initiatives have positioned Brunei as a key player in the region. Join us as we delve into the intricate tapestry of Brunei's economy, society, and geopolitical relationships, uncovering the factors that shape this dynamic nation.
Population And Age Structure
Population, total: Brunei has a population of 441,725, which is significantly below the average population of 40,097,746. Brunei ranks 168th out of 194 countries in terms of population size.
Population ages 0-14 (% of total population): The percentage of the population aged 0-14 in Brunei is 22.64%, below the average of 27.34%. Brunei ranks 115th out of 194 countries in this age group distribution.
Population ages 0-14, total: The total population aged 0-14 in Brunei is 100,001, much lower than the average of 10,327,380. Brunei ranks 169th out of 194 countries in this category.
Population ages 15-64 (% of total population): In Brunei, 71.89% of the population falls within the 15-64 age group, higher than the average of 63.44%. Brunei ranks 11th out of 194 countries in this age group distribution.
Population ages 15-64, total: The total population aged 15-64 in Brunei is 317,577, below the average of 26,003,407. Brunei ranks 168th out of 194 countries in this age group.
Population ages 65 and above (% of total population): Brunei has 5.47% of its population aged 65 and above, lower than the average of 9.22%. Brunei ranks 112th out of 194 countries in this category.
Population ages 65 and above, total: The total population aged 65 and above in Brunei is 24,147, well below the average of 3,766,959. Brunei ranks 169th out of 194 countries in this age group.
Summary
In summary, Brunei has a relatively small total population compared to the global average, with a higher percentage of individuals in the working-age bracket (15-64 years) and lower percentages in the 0-14 and 65 and above age groups. These demographic indicators are crucial as they impact various aspects of the economy, such as workforce availability, dependency ratios, healthcare needs, and pension systems. Understanding these population dynamics is essential for long-term economic planning and social development strategies in Brunei.
Population Miscellaneous
Brunei has a rural population of 96,075, significantly below the average of 18,044,041, ranking 168 out of 190 countries in the dataset. The urban population in Brunei is 345,650, much lower than the average of 22,425,747, ranking 162 out of 194 countries. Brunei's urban population percentage of 78.25% is above the average of 59.69%, ranking 51 out of 194 countries.
With an age dependency ratio of 39.09%, Brunei has a lower ratio compared to the average of 59.22%, ranking 184 out of 194 countries. The crude birth rate in Brunei is 14.165 per 1,000 people, lower than the average of 19.38, ranking 114 out of 192 countries. Brunei's crude death rate of 4.975 per 1,000 people is also below the average of 8.21, ranking 182 out of 192 countries.
The fertility rate in Brunei is 1.796 births per woman, lower than the average of 2.60, ranking 120 out of 190 countries.
Summary
Brunei has a predominantly urban population, with a high urban population percentage compared to the global average. It also has a lower age dependency ratio, crude birth rate, crude death rate, and fertility rate compared to the global averages. These indicators suggest a demographic pattern of a more economically stable and developed country, with lower dependency burden and sustainable population growth, which are crucial for long-term economic growth and stability.
Military
Regarding Military expenditure (current USD), Brunei's expenditure stands at $436,548,223.35, which is significantly below the average of $12,904,993,617.17. Brunei ranks 89th out of 149 countries in this category.
For Military expenditure (% of GDP), Brunei's expenditure is 3.63% of its GDP, notably higher than the average of 1.90%. Brunei holds the 14th rank among 148 countries in this metric.
In terms of Armed forces personnel, Brunei has 8000 personnel, well below the average of 165,908.54 personnel. Brunei holds the 140th rank out of 164 countries included.
Lastly, for Armed forces personnel (% of total labor force), Brunei's percentage stands at 3.68%, significantly higher than the average of 1.28%. Brunei ranks 12th out of 164 countries in this aspect.
Summary
Brunei's military expenditure in absolute terms is substantially lower than the global average, placing it at the 89th position worldwide. However, as a percentage of its GDP, Brunei allocates a higher portion to military expenses than most countries, ranking 14th globally. Despite having a relatively small number of armed forces personnel compared to the average, Brunei's proportion of personnel in relation to its total labor force is notably high, positioning it at the 12th spot internationally. These figures are crucial as they reflect Brunei's strategic prioritization of defense spending and the significant role of the military within its labor force.
Natural Resources
Brunei's forest area spans 3800 sq. km, which is significantly below the average of 211606.11 sq. km, ranking 142 out of 191 countries in the dataset.
The country's land area covers 5270 sq. km, much lower than the average of 665166.51 sq. km, placing Brunei at rank 164 out of 194 countries.
With a surface area of 5770 sq. km, Brunei falls short of the average of 689779.56 sq. km, ranking 164 out of 194 countries.
Brunei's arable land spans 4000 hectares, notably less than the average of 7329543.16 hectares, positioning the country at rank 173 out of 190 countries.
The land under cereal production in Brunei covers 1300 hectares, much lower than the average of 4206011.63 hectares, with a rank of 163 out of 174 countries.
Brunei experiences an average precipitation depth of 2722 mm per year, significantly higher than the average of 1157.83 mm per year, with a ranking of 8 out of 178 countries.
Regarding renewable freshwater resources, Brunei has a total of 8.5 billion cubic meters, which is well below the average of 240.41 billion cubic meters, ranking 127 out of 178 countries.
Summary
Brunei's land and forest area, arable land, and land under cereal production are notably below global averages, reflecting limitations in agricultural potential and natural resource utilization. However, its above-average precipitation depth could potentially support agriculture with proper infrastructure. The country's low renewable freshwater resources compared to the global average underscore the importance of efficient water management for sustainable development.
Resource Rents
Brunei's Total natural resources rents account for 13.75% of its GDP, significantly exceeding the average of 4.63%. This places Brunei at the 19th rank out of 175 countries included in the data.
When it comes to Forest rents, Brunei's value is only 0.06% of GDP, well below the average of 1.53%. Brunei ranks 127th out of 174 countries in this category.
Brunei's Oil rents are at 3.46% of GDP, slightly higher than the average of 2.51%. In this aspect, Brunei is ranked 21st out of 117 countries.
For Natural gas rents, Brunei stands out with a value of 10.24% of GDP, significantly surpassing the average of 1.25%. This places Brunei at the 2nd rank out of 96 countries in the dataset.
Summary
Brunei boasts a strong economy supported by its abundant natural resources, particularly in the oil and natural gas sectors. The country's high rankings in Total natural resources rents, Oil rents, and Natural gas rents indicate its significant reliance on these sectors for economic growth and revenue generation. However, Brunei's comparatively low ranking in Forest rents suggests room for potential development and diversification of its resource utilization strategies.
These findings are crucial as they highlight Brunei's economic strengths and vulnerabilities. By focusing on maximizing the utilization and sustainability of its abundant oil and gas resources while also exploring opportunities for growth in other sectors like forestry, Brunei can enhance its economic resilience and long-term development prospects.
Commodities
Brunei's cereal production is significantly below the global average, ranking 159th out of 174 countries with a production of 3900 metric tons.
For aquaculture production, Brunei's value of 3500.03 metric tons is also notably lower than the average, placing it at the 101st rank out of 180 countries.
The country's capture fisheries production of 13091.04 metric tons falls below the average, ranking 134th out of 190 countries.
Brunei's total fisheries production is below the average at 16591.07 metric tons, placing it at the 135th rank out of 182 countries in the dataset.
In terms of fertilizer consumption, Brunei's value of 177.25 kilograms per hectare of arable land is above the average, securing it the 49th rank out of 187 countries.
Summary
Brunei's agricultural sector lags behind global averages in cereal production, aquaculture, and fisheries. However, it shines in fertilizer consumption, surpassing the average and ranking relatively higher compared to other countries. These indicators are crucial as they reflect Brunei's agricultural productivity, self-sufficiency, and potential for growth in utilizing arable land efficiently.
Intellectual Property
Brunei's Industrial design applications by nonresidents stand at 172, below the average of 1415.83, ranking 64 out of 112 countries.
For Patent applications by nonresidents, Brunei recorded 115 applications, significantly lower than the average of 6538.40, ranking 67 out of 129 countries.
Brunei's Patent applications by residents are just 5, far below the average of 19037.56, placing Brunei at 108 out of 117 countries in this category.
Trademark applications by nonresidents in Brunei are 3708, below the average of 15878.93, ranking 79 out of 130 countries.
Brunei's Trademark applications by residents amount to 234, well below the average of 111055.78, positioning Brunei at 113 out of 129 countries.
Brunei's Scientific and technical journal articles stand at 286.84, below the average of 15103.76, placing Brunei at 106 out of 192 countries.
Furthermore, Brunei's Charges for the use of intellectual property payments amount to 12307985.38 USD, significantly lower than the average of 3218843494.39 USD, ranking Brunei at 98 out of 143 countries.
Summary
Brunei lags behind global averages in various key macroeconomic indicators related to intellectual property and innovation such as industrial design, patents, trademarks, scientific articles, and intellectual property payments. This suggests a lesser focus on research, development, and commercialization of intellectual property within the country. Improving these indicators can bolster Brunei's innovation capacity, attract foreign investments, and enhance its competitiveness in the global market.
Broad Economy Attributes
1. The GDP of Brunei is $12,005,799,653.98, which is significantly below the average GDP of $442,870,224,838.68. Brunei is ranked 133 out of 189 countries in this attribute.
2. Brunei's GDP, PPP is $28,736,063,986.56, far lower than the average GDP, PPP of $734,141,122,350.78. Brunei ranks 130 out of 181 countries.
3. Brunei's GDP per capita is $27,179.35, higher than the average of $15,462.11. Brunei is ranked 33 out of 190 countries.
4. The GDP per capita, PPP of Brunei is $65,054.19, well above the average of $21,251.89. Brunei ranks 8 out of 181 countries.
5. Brunei's GNI is $12,367,589,256.53, significantly below the average GNI of $452,040,815,370.70. Brunei is ranked 128 out of 185 countries.
6. The GNI, PPP of Brunei is $29,602,012,900.26, much lower than the average of $730,698,223,823.47. Brunei ranks 131 out of 181 countries.
7. Brunei's GNI per capita, PPP is $67,010, which is well above the average of $20,615.75. Brunei is ranked 8 out of 181 countries.
Summary
Brunei's GDP, GDP per capita, and GNI per capita figures are above global averages, indicating a relatively high standard of living for its citizens. However, when comparing Brunei's GDP and GNI to global averages, there is a notable disparity, suggesting potential economic challenges. These statistics are crucial as they provide insights into Brunei's economic performance, wealth distribution, and overall competitiveness in the global market.
Broad Value Added
1. Gross value added at basic prices (GVA) (current US$): Brunei's GVA is $12,222,082,651.12, which is significantly below the attribute average of $360,070,943,595.12. Brunei ranks 120th out of 176 countries in this attribute.
2. Agriculture, forestry, and fishing, value added (% of GDP): Brunei's value added in this sector accounts for 1.22% of its GDP, well below the average of 10.86%. Brunei is ranked 163rd out of 182 countries for this attribute.
3. Agriculture, forestry, and fishing, value added (current US$): Brunei's value added in this sector is $146,170,951.28, significantly lower than the average of $19,924,732,828.07. Brunei is ranked 159th out of 182 countries.
4. Services, value added (% of GDP): Brunei's service sector contributes 41.45% to its GDP, lower than the average of 56.72%. Brunei is ranked 164th out of 183 countries for this attribute.
5. Services, value added (current US$): Brunei's service sector value added is $4,976,446,525.09, well below the average of $295,837,711,130.69. Brunei is ranked 138th out of 183 countries in this attribute.
6. Industry (including construction), value added (current US$): Brunei's value added in the industry sector is $7,099,465,174.75, significantly below the average of $118,421,095,413.50. Brunei is ranked 98th out of 183 countries for this attribute.
Summary
Brunei exhibits below-average performance in key macroeconomic indicators such as Gross Value Added, Agriculture, Forestry, and Fishing value added, Services value added, and Industry value added. These rankings highlight the country's economic dependence on sectors with lower contribution to its GDP compared to the global average. Such findings indicate a potential imbalance in Brunei's economic structure, signaling the need for diversification and development strategies to enhance overall economic resilience and growth.
Manufacturing Value Added
Brunei's Manufacturing, value added (current US$) is $1.89 billion, a significant difference of -$74.31 billion from the average value. Brunei ranks 105 out of 173 countries in this attribute data.
Manufacturing, value added (% of GDP) in Brunei is 15.77%, showing a positive deviation of 3.87% from the average. Brunei holds the rank of 46 out of 173 countries in this category.
Brunei's Medium and high-tech manufacturing value added (% manufacturing value added) is at 3.32%, notably lower by -21.17% compared to the average. Brunei ranks 137 out of 149 countries based on this metric.
Summary
Brunei's manufacturing sector plays a significant role in its economy, contributing 15.77% to its GDP, which is 3.87% higher than the global average. However, the country's medium and high-tech manufacturing value added is comparatively low at 3.32%, reflecting a potential area for improvement. These indicators are crucial as they showcase Brunei's economic diversification efforts, competitiveness in the global market, and technological advancement.
Money
Brunei's consumer price inflation is relatively low at 1.94%, below the average of 8.26%. The country ranks 83 out of 165 countries in this attribute.
Brunei's GDP deflator inflation is significantly negative at -10.86%, indicating deflation. This is well below the average of 6.90%. Brunei ranks 181 out of 188 countries in this attribute.
Brunei's broad money growth is in contraction at -0.43%, much lower than the average of 18.03%. The country ranks 131 out of 139 countries in this attribute.
Brunei's broad money as a percentage of GDP is relatively high at 93.58%, exceeding the average of 71.75%. Brunei ranks 33 out of 139 countries in this attribute.
Brunei's broad money to total reserves ratio is 2.81, lower than the average of 5.17. The country ranks 61 out of 126 countries in this attribute.
Summary
Brunei stands out with low consumer price inflation, deep GDP deflation, sharp contraction in broad money growth, high broad money as a percentage of GDP, and a lower-than-average broad money to total reserves ratio. These indicators suggest a challenging economic environment marked by weak demand, potential deflationary pressures, and a reliance on money supply to drive economic activity. It highlights the need for policymakers to carefully manage monetary policy and stimulate sustainable economic growth to navigate these challenges effectively.
Consumption Expenditure
Final consumption expenditure (current US$): Brunei's value is $5,905,691,007.41 which is significantly below the average of $381,630,252,515.38. Brunei ranks 132 out of 159 countries in this attribute.
Final consumption expenditure (% of GDP): Brunei's value is 49.19%, below the average of 82.37%. Brunei ranks 155 out of 159 countries in this attribute.
General government final consumption expenditure (current US$): Brunei's value is $3,053,193,259.71, notably below the average of $93,676,578,238.03. Brunei ranks 103 out of 158 countries in this attribute.
General government final consumption expenditure (% of GDP): Brunei's value is 25.43%, above the average of 18.71%. Brunei ranks 20 out of 158 countries in this attribute.
Household and NPISHs Final consumption expenditure (current US$): Brunei's value is $2,852,497,747.70, significantly below the average of $290,127,571,157.69. Brunei ranks 136 out of 158 countries in this attribute.
Households and NPISHs final consumption expenditure (% of GDP): Brunei's value is 23.76%, well below the average of 63.68%. Brunei ranks 158 out of 158 countries in this attribute.
Summary
Brunei exhibits significantly lower final consumption expenditure values compared to global averages across various categories such as general government, households, and NPISHs. This suggests that Brunei has relatively lower domestic consumption levels, potentially indicating limited economic activity and development within the country. These findings are important as they highlight the need for Brunei to stimulate domestic consumption to drive economic growth and development, potentially through policies aimed at boosting household spending and government expenditure.
Investment
1. Foreign direct investment, net (BoP, current US$): Brunei's value of -565,542,275.43 is below the attribute average of -1,615,235,980.51. It ranks 92 out of 169 countries in the dataset.
2. Foreign direct investment, net inflows (BoP, current US$): Brunei's value of 565,542,275.43 is below the attribute average of 5,749,271,080.15. It ranks 87 out of 182 countries in the dataset.
3. Foreign direct investment, net inflows (% of GDP): Brunei's value of 4.71% is above the attribute average of 2.61%. It ranks 41 out of 178 countries in the dataset.
4. Portfolio Investment, net (BoP, current US$): Brunei's value of 1,160,723,494.29 is above the attribute average of 679,559,169.57. It ranks 41 out of 159 countries in the dataset.
Summary
Brunei demonstrates mixed results in key macroeconomic indicators related to foreign investment. While the country lags in Foreign Direct Investment (FDI) amounts compared to the global average, it surpasses the average in FDI as a percentage of GDP and Portfolio Investment. This indicates Brunei's potential for attracting more diverse forms of investment relative to its economic output. Understanding these indicators is crucial for assessing Brunei's attractiveness to foreign investors and its ability to sustain economic growth through diversified capital inflows.
Broad Trade Attributes
Trade (% of GDP): Brunei's trade accounts for 110.29% of its GDP, surpassing the average of 82.34%. Brunei ranks 33 out of 163 countries in this attribute data.
Merchandise trade (% of GDP): Brunei's merchandise trade makes up 99.54% of its GDP, exceeding the average of 60.01%. Brunei is ranked 22 out of 186 countries in this attribute data.
Trade in services (% of GDP): Brunei's trade in services represents 12.97% of its GDP, which is below the average of 24.63%. Brunei holds the 97th rank out of 171 countries in this attribute data.
External balance on goods and services (current US$): Brunei's external balance on goods and services is $530,802,716.24, significantly below the average of $3,405,509,011.13. Brunei is ranked 54 out of 163 countries in this attribute data.
External balance on goods and services (% of GDP): Brunei's external balance as a percentage of GDP stands at 4.42%, higher than the average of -5.97%. Brunei holds the 28th rank out of 163 countries in this attribute data.
Summary
Brunei excels in trade, with its trade, merchandise trade, and external balance on goods and services as a percentage of GDP all surpassing global averages, ranking relatively high among countries. However, Brunei lags behind in trade in services and its external balance on goods and services in absolute terms. These indicators are crucial as they reflect Brunei's economic openness, reliance on trade, and balance of payments stability, highlighting areas for potential growth and improvement in the country's economy.
Net Trade
1. Brunei's current account balance (BoP, current US$) is $513,713,114.58, which is below the average of $1,443,864,831.49. Brunei ranks 49th out of 170 countries in this attribute.
2. The current account balance (% of GDP) for Brunei is 4.28%, surpassing the average of -2.36%. Brunei ranks 28th out of 170 countries in this category.
3. Brunei's net trade in goods and services (BoP, current US$) is $503,987,342.56, falling below the average of $2,604,730,003.57. It ranks 59th out of 171 countries in this aspect.
4. In terms of net primary income (BoP, current US$), Brunei records $359,635,249.35, exceeding the average of -$903,807,529.74. Brunei ranks 28th out of 170 countries here.
5. Brunei's net secondary income (BoP, current US$) is at -$349,909,477.33, below the average of -$269,227,340.40. Brunei ranks 131st out of 170 countries for this attribute.
6. Brunei's net trade in goods (BoP, current US$) is $1,359,173,252.38, slightly above the average of $1,302,831,005.68. Brunei ranks 51st out of 171 countries in this field.
7. Brunei's net financial account (BoP, current US$) stands at -$201,655,625.71, higher than the average of -$469,840,994.63. Brunei is ranked 89th out of 170 countries based on this metric.
Summary
Brunei performs moderately well in key macroeconomic indicators related to its current account balance, trade in goods and services, primary income, and trade in goods when compared to a global average. However, the country falls below average in net secondary income. These statistics are crucial as they reflect Brunei's economic stability, trade relationships, and financial inflows and outflows, providing insights into the country's economic health and its positioning in the global market.
Broad Export Attributes
Brunei's Exports of goods, services and primary income (BoP, current US$) amount to $7,805,639,830.43, ranking 98th out of 170 countries. This value is significantly below the attribute average of $146,238,908,936.30.
Brunei's Exports of goods and services (BoP, current US$) stand at $6,886,208,832.25, ranking 101st out of 170 countries. This value is notably lower than the attribute average of $122,938,540,059.78.
Brunei's Exports of goods and services (current US$) amount to $6,886,059,825.92, ranking 99th out of 163 countries. This value falls below the attribute average of $129,596,864,610.19.
Brunei's Exports of goods and services (% of GDP) are at 57.36%, ranking 28th out of 163 countries. This value is above the attribute average of 38.19%.
Brunei's Goods exports (BoP, current US$) total $6,535,165,749.08, ranking 91st out of 171 countries. This figure is considerably lower than the attribute average of $93,310,581,697.39.
Brunei's ICT goods exports (% of total goods exports) stand at 0.04%, ranking 128th out of 142 countries. This value is significantly lower than the attribute average of 3.81%.
Summary
Brunei's export performance across various indicators, such as total exports, goods exports, and ICT goods exports, ranks below the global average in most categories. Particularly, Brunei's exports of goods, services, and primary income, as well as goods exports, are notably lower than the attribute averages. The higher percentage of exports relative to GDP could indicate a heavy reliance on exports for economic growth, emphasizing the need for diversification and strengthening of other sectors to ensure sustainable economic development.
Merchandise Exports
Brunei's merchandise exports amount to $6.6 billion, ranking 97th out of 187 countries. This is significantly below the average of $89.5 billion.
Brunei's agricultural raw materials exports constitute only 0.02% of its total merchandise exports, ranking 145th out of 151 countries. This is far below the average of 2.97%.
Food exports account for a mere 0.16% of Brunei's merchandise exports, ranking 151st out of 152 countries. This is substantially lower than the average of 24.06%.
Brunei heavily relies on fuel exports, making up 81.51% of its merchandise exports. It ranks 7th out of 147 countries, well above the average of 13.70%.
Ores and metals exports contribute only 0.08% to Brunei's merchandise exports, ranking 148th out of 152 countries, significantly below the average of 9.10%.
Brunei's residual merchandise exports stand at 0.03%, ranking 122nd out of 166 countries. This is notably below the average of 3.20%.
Summary
Brunei's economy is heavily reliant on fuel exports, which make up the vast majority of its merchandise exports. The country has very low diversification in its exports, with minimal contributions from agricultural raw materials, food, ores, and metals. This lack of export diversification could leave Brunei vulnerable to fluctuations in global fuel prices and demand, highlighting the importance of developing other sectors to ensure economic stability and resilience.
Technology Exports
Manufactures exports (% of merchandise exports): Brunei's value for this attribute is 18.04%, below the average of 42.62%. Brunei ranks 103 out of 152 countries for this statistic.
High-technology exports (current US$): Brunei's value for this attribute is $15,965,131, significantly below the average of $16,655,934,078.80. Brunei ranks 106 out of 151 countries for this statistic.
High-technology exports (% of manufactured exports): Brunei's value for this attribute is 1.34%, well below the average of 10.15%. Brunei ranks 127 out of 150 countries for this statistic.
Medium and high-tech exports (% manufactured exports): Brunei's value for this attribute is 6.73%, significantly below the average of 34.29%. Brunei ranks 130 out of 149 countries for this statistic.
Summary
Brunei lags behind global averages in key macroeconomic indicators related to exports, including manufactures exports, high-technology exports, high-technology exports as a percentage of manufactured exports, and medium and high-tech exports as a percentage of manufactured exports. These low rankings indicate a potential lack of diversification and competitiveness in Brunei's export sector, posing risks of overdependence on specific industries and vulnerability to external market fluctuations.
Service Exports
Service exports (BoP, current US$): Brunei's value of 351,043,083.18 is significantly below the average of 28,917,292,503.82, placing Brunei at rank 136 out of 171 countries in the dataset.
ICT service exports (BoP, current US$): Brunei's value of 7,332,890.37 is well below the average of 4,578,501,153.77, ranking Brunei 143 out of 166 countries.
ICT service exports (% of service exports, BoP): Brunei's value of 2.09% is notably lower than the average of 11.75%, positioning Brunei at rank 144 out of 166 countries.
Communications, computer, etc. (% of service exports, BoP): Brunei's value of 47.45% is slightly above the average of 45.85%, placing Brunei at rank 86 out of 169 countries.
Transport services (% of service exports, BoP): Brunei's value of 41.33% is significantly higher than the average of 21.80%, ranking Brunei 23 out of 169 countries.
Travel services (% of service exports, BoP): Brunei's value of 10.75% is below the average of 26.40%, positioning Brunei at rank 121 out of 167 countries.
Insurance and financial services (% of service exports, BoP): Brunei's value of 0.47% is notably lower than the average of 6.46%, placing Brunei at rank 148 out of 161 countries.
Summary
Brunei's performance in key macroeconomic indicators related to service exports, particularly in ICT services, communications, and travel services, lags behind global averages, with rankings ranging from 23 to 148 out of various countries. These indicators are crucial as they reflect Brunei's competitiveness and diversification in the service sector, highlighting areas that may require attention and strategic investment for economic growth and global market reach.
Commercial Service Exports
Brunei's commercial service exports amount to $332,555,667.21, ranking 135 out of 171 countries. This figure is significantly below the average commercial service exports of $28,508,218,402.80.
Travel services account for 11.35% of Brunei's commercial service exports, ranking 120 out of 167 countries. This percentage is below the average of 27.89%.
Brunei diversifies its commercial service exports with computer, communications, and other services contributing to 44.52% of the total, ranking 86 out of 169 countries. This percentage is slightly above the average of 42.44%.
Insurance and financial services make up a mere 0.50% of Brunei's commercial service exports, which is significantly below the average of 6.97%. Brunei ranks 148 out of 161 countries in this category.
Brunei excels in transport services, constituting 43.63% of its commercial service exports, ranking 23 out of 169 countries. This percentage is notably higher than the average of 23.37%.
Summary
Brunei has a mixed performance in key macroeconomic indicators related to commercial service exports. While the country excels in transport services, contributing 43.63% to total exports, it lags behind in insurance and financial services, with a meager 0.50% share. The diversification of exports into computer, communications, and other services is a positive sign, helping Brunei to stay slightly above the average. These indicators are crucial as they reflect Brunei's strengths and weaknesses in different service sectors, guiding policymakers and investors in identifying areas for improvement and further development.
Broad Import Attributes
1. Brunei's Imports of goods and services (current US$) amount to $6,355,257,109.68, which is significantly below the average of $126,191,355,599.06. Brunei ranks 108th out of 163 countries in this attribute.
2. Imports of goods and services (% of GDP) for Brunei are 52.93%, higher than the average of 44.15%. Brunei ranks 42nd out of 163 countries in this category.
3. Brunei's ICT goods imports (% total goods imports) stand at 3.97%, below the average of 6.85%. Brunei holds the 99th position out of 143 countries in this aspect.
4. In terms of Goods imports (BoP, current US$), Brunei's value of $5,175,992,496.70 is much lower than the average of $92,007,788,027.17. Brunei ranks 110th out of 171 countries in this attribute.
5. Brunei's Imports of goods and services (BoP, current US$) amount to $6,382,221,489.69, significantly lower than the average of $120,321,577,988.12. Brunei holds the 111th position out of 170 countries in this category.
6. Imports of goods, services and primary income (BoP, current US$) for Brunei total $6,942,017,238.52, well below the average of $144,514,428,722.28. Brunei ranks 114th out of 170 countries in this attribute.
Summary
Brunei's import figures across various categories consistently show values well below the global average. These statistics indicate that Brunei has a relatively low level of economic activity in terms of imports compared to other countries. Such low import numbers can point towards potential challenges in diversifying the economy, limited domestic demand for foreign goods, or possibly a narrower range of international trade partners.
Merchandise Imports
1. Brunei's merchandise imports amount to $5,343,000,000, ranking 117 out of 190 countries. This is significantly below the average merchandise imports of $89,385,605,263. Brunei is among 190 countries in this dataset.
2. Manufactures imports account for 52.18% of Brunei's merchandise imports, ranking 140 out of 152 countries. This percentage is below the average of 66.76%. Brunei is one of 152 countries included in this data.
3. Agricultural raw materials imports represent only 0.07% of Brunei's merchandise imports, ranking 152 out of 152 countries. This is substantially lower than the average of 1.27%. Brunei is one of 152 countries in this dataset.
4. Food imports constitute 10.77% of Brunei's merchandise imports, ranking 114 out of 152 countries. This percentage is below the average of 15.89%. Brunei is among 152 countries in this data.
5. Fuel imports make up 36.51% of Brunei's merchandise imports, ranking 1 out of 152 countries. This is significantly higher than the average of 11.38%. Brunei is one of 152 countries included in this data.
6. Ores and metals imports represent 0.44% of Brunei's merchandise imports, ranking 144 out of 152 countries. This value is below the average of 2.57%. Brunei is one of 152 countries in this dataset.
7. Brunei's residual merchandise imports account for 0.07% of total imports, ranking 133 out of 180 countries. This is notably lower than the average of 2.51%. Brunei is among 180 countries in this dataset.
Summary
Brunei heavily relies on fuel imports, which make up a significant portion of its merchandise imports, ranking first among 152 countries. However, the country's imports of agricultural raw materials, ores, and metals are notably low compared to the global average. This indicates Brunei's vulnerability to fluctuations in fuel prices and its limited diversification in import sources, which could impact its economic stability and resilience.
Service Imports
1. Brunei's service imports amount to $1,206,228,992.99, ranking 117th out of 171 countries. This is significantly below the average service imports of $27,615,356,170.47.
2. In terms of Communications, computer, etc. (% of service imports), Brunei's percentage is 71.76%, ranking 11th out of 169 countries. This value is notably higher than the average of 44.40%.
3. Brunei's Transport services (% of service imports) is 18.90%, placing it at 135th out of 169 countries, which is below the average of 32.90%.
4. For Travel services (% of service imports), Brunei's percentage stands at 8.07%, ranking 106th out of 169 countries. It is lower than the average of 14.14%.
5. Brunei's Insurance and financial services (% of service imports) is 1.27%. This places Brunei at 164th out of 169 countries, significantly below the average of 8.53%.
Summary
Brunei has a notably low amount of service imports compared to the global average, with a focus on Communications, computer, etc. The country's high percentage in this sector signifies a strong reliance on technology-related services. However, Brunei lags in Transport, Travel, and Insurance/financial services, indicating potential areas for diversification and growth to align with global standards and foster economic development.
Commercial Service Imports
Analysis of key statistics for Brunei in comparison to the global average:
1. Commercial service imports (current US$): Brunei's value is $1,177,229,124.82, significantly below the average of $27,102,746,128.60. Brunei ranks 116 out of 171 countries.
2. Computer, communications and other services (% of commercial service imports): Brunei's value is 71.07%, higher than the average of 41.71%. Brunei ranks 12 out of 169 countries.
3. Insurance and financial services (% of commercial service imports): Brunei's value is 1.30%, below the average of 8.85%. Brunei ranks 165 out of 169 countries.
4. Transport services (% of commercial service imports): Brunei's value is 19.37%, below the average of 34.71%. Brunei ranks 134 out of 169 countries.
5. Travel services (% of commercial service imports): Brunei's value is 8.27%, below the average of 14.73%. Brunei ranks 110 out of 169 countries.
Summary
Brunei stands out for its high proportion of computer, communications, and other services in its commercial service imports, ranking 12th globally. However, the country lags behind in insurance and financial services as well as transport and travel services, ranking quite low in comparison to the global average. These indicators are crucial as they reflect Brunei's economic structure, highlighting its reliance on specific service sectors and areas that may need further development to enhance overall trade competitiveness and economic diversification.
Infrastructure
Air transport, freight (million ton-km): Brunei's value of 40.227 is significantly below the average of 1384.365 million ton-km. Brunei ranks 60 out of 126 countries in this attribute data.
Air transport, registered carrier departures worldwide: Brunei's value of 4233 departures is well below the average of 134365 departures. Brunei ranks 105 out of 149 countries in this attribute data.
Air transport, passengers carried: Brunei's value of 280622 passengers carried is substantially below the average of 11848242 passengers. Brunei ranks 106 out of 149 countries in this attribute data.
Container port traffic (TEU: 20 foot equivalent units): Brunei's value of 106174 TEU is significantly below the average of 6907110 TEU. Brunei ranks 102 out of 110 countries in this attribute data.
Summary
Brunei lags behind global averages in key air transport and sea port indicators, ranking below average in terms of freight transport, carrier departures, passengers carried, and container port traffic. These low rankings highlight Brunei's limited connectivity and trade volume compared to other countries. Improving these indicators is crucial for enhancing Brunei's economic competitiveness, facilitating international trade, and attracting investment for sustainable growth.
Information Technology Infrastructure
Brunei has 6,890 secure internet servers, which is significantly below the average of 458,294. Brunei ranks 74th out of 193 countries for this attribute.
With 15,597.94 secure internet servers per 1 million people, Brunei is above the average of 14,067.17. It ranks 42nd out of 193 countries in this category.
96.07% of Brunei's population uses the internet, well above the average of 64.77%. Brunei ranks 11th out of 180 countries for individuals using the internet.
Brunei has 71,078 fixed broadband subscriptions, far below the average of 6,591,956. Brunei ranks 130th out of 185 countries for fixed broadband subscriptions.
With 536,589 mobile cellular subscriptions, Brunei is below the average of 42,526,463. Brunei ranks 166th out of 193 countries for mobile cellular subscriptions.
Summary
Brunei exhibits a mixed performance in key macroeconomic indicators related to internet and telecommunication infrastructure. While the country has a low number of secure internet servers and fixed broadband subscriptions compared to global averages, it surpasses the average in secure internet servers per 1 million people and internet usage rate. The high percentage of internet users in Brunei signifies a digitally connected population, which is crucial for economic development, innovation, and global competitiveness.
Energy Consumption
Brunei's renewable energy consumption (% of total final energy consumption) is notably low at 0.01%, well below the average of 32.18%. This places Brunei at rank 191 out of 191 countries in the dataset for this attribute.
On the other hand, Brunei's CO2 emissions stand at 9588 kt, significantly lower than the average of 171895.94 kt. Brunei ranks 102 out of 188 countries in CO2 emissions among the dataset countries.
Summary
Brunei's renewable energy consumption is extremely low compared to the global average, ranking last among all countries in the dataset. However, the country's relatively low CO2 emissions, despite being below the global average, position Brunei in the middle range compared to other countries. These findings are crucial as they highlight Brunei's need to transition towards sustainable energy sources to mitigate environmental impact while also showcasing its current environmental performance in terms of CO2 emissions compared to its peers.
Government Balance Sheet
Brunei's Reserves and related items (BoP, current US$) value is -445856267.98, which is significantly below the average of $1,924,407,186.58. Brunei ranks 127 out of 171 countries in this attribute data.
Brunei's Total reserves minus gold (current US$) amount to $3,721,321,940.02, well below the average of $74,221,588,171.61. Brunei holds the 98th position out of 161 countries in this category.
For Total reserves (includes gold, current US$), Brunei's value stands at $3,997,356,505.31, falling short of the average of $85,708,019,773.47. Brunei ranks 97th among 161 countries for this metric.
Brunei's Total reserves in months of imports is 6.91, slightly below the average of 7.10. This places Brunei at the 59th position out of 151 countries in this parameter.
Summary
Brunei's reserves and related items, total reserves minus gold, total reserves including gold, and total reserves in months of imports all fall below the global averages. These indicators reflect Brunei's relatively limited financial cushion compared to other countries, potentially indicating vulnerability to economic shocks or a need to diversify revenue sources to enhance economic stability.
Taxes
Brunei's applied weighted mean tariff rate for all products is 0.02%, significantly lower than the average of 5.21%. This places Brunei at rank 153 out of 153 countries in the dataset, indicating its extremely low tariff rate compared to other nations.
Summary
Brunei stands out with an exceptionally low applied weighted mean tariff rate of 0.02%, ranking last among 153 countries analyzed. This significantly low tariff rate can be crucial for Brunei's economic development as it promotes international trade, attracts foreign investments, and fosters economic growth by reducing barriers to imports.
Top Stats
Ranks in Top Decile For:
| Attribute | Rank/Total |
|---|---|
| Population ages 15-64 (% of total population) | 11/194 |
| Military expenditure (% of GDP) | 14/148 |
| Armed forces personnel (% of total labor force) | 12/164 |
| Average precipitation in depth (mm per year) | 8/178 |
| Natural gas rents (% of GDP) | 2/96 |
| GDP per capita, PPP (current international $) | 8/181 |
| GNI per capita, PPP (current international $) | 8/181 |
| Fuel exports (% of merchandise exports) | 7/147 |
| Fuel imports (% of merchandise imports) | 1/152 |
| Communications, computer, etc. (% of service imports, BoP) | 11/169 |
| Computer, communications and other services (% of commercial service imports) | 12/169 |
| Individuals using the Internet (% of population) | 11/180 |
Ranks in Bottom Decile For:
| Attribute | Rank/Total |
|---|---|
| Age dependency ratio (% of working-age population) | 184/194 |
| Death rate, crude (per 1,000 people) | 182/192 |
| Arable land (hectares) | 173/190 |
| Land under cereal production (hectares) | 163/174 |
| Cereal production (metric tons) | 159/174 |
| Patent applications, residents | 108/117 |
| Medium and high-tech manufacturing value added (% manufacturing value added) | 137/149 |
| Inflation, GDP deflator (annual %) | 181/188 |
| Broad money growth (annual %) | 131/139 |
| Final consumption expenditure (% of GDP) | 155/159 |
| Households and NPISHs final consumption expenditure (% of GDP) | 158/158 |
| ICT goods exports (% of total goods exports) | 128/142 |
| Agricultural raw materials exports (% of merchandise exports) | 145/151 |
| Food exports (% of merchandise exports) | 151/152 |
| Ores and metals exports (% of merchandise exports) | 148/152 |
| Insurance and financial services (% of service exports, BoP) | 148/161 |
| Insurance and financial services (% of commercial service exports) | 148/161 |
| Manufactures imports (% of merchandise imports) | 140/152 |
| Agricultural raw materials imports (% of merchandise imports) | 152/152 |
| Ores and metals imports (% of merchandise imports) | 144/152 |
| Insurance and financial services (% of service imports, BoP) | 164/169 |
| Insurance and financial services (% of commercial service imports) | 165/169 |
| Container port traffic (TEU: 20 foot equivalent units) | 102/110 |
| Renewable energy consumption (% of total final energy consumption) | 191/191 |
| Tariff rate, applied, weighted mean, all products (%) | 153/153 |