Brunei!

Report

1. Brunei Darussalam

2. Southeast Asian country consisting of two unconnected parts Total area of 5,765 square kilometres Neighbours: Malaysia, South China Sea Capital Bandar Seri Begawan Climate:  Tropical Equatorial ; Hot, Humid, Rainy (Average annual temperature is 26.1 °C) GEOGRAPHY

3. Natural Resources : Petroleum, Natural Gas, Timber Natural Hazards: Typhoons and Earthquakes Close to vital sea lanes through South China Sea linking Indian and Pacific Oceans; two parts physically separated by Malaysia; almost an enclave within Malaysia

4. Location

5. History The Sultanate of Brunei ruled during the fourteenth to the sixteenth century CE. Its territory allegedly covered the northern part of Borneo and the southern Philippines.  European  influence gradually brought an end to this regional power. Later, there was a brief war with Spain, in which Brunei was victorious. The decline of the Bruneian Empire culminated in the nineteenth century when Brunei lost much of its territory to the White Rajahs of Sarawak, resulting in its current small landmass and separation into two parts. Brunei was a  British  protectorate from 1888 to 1984.

6. Gained independence on 1 st January, 1984 from UK Govt. Type: Constitutional Sultanate (Malay Islamic Monarchy) Legal System is a mix of English Common Law and Islamic Law Chief of state:  Sultan and Prime Minister Sir HASSANAL Bolkiah (since 5 October 1967) Monarch is both the chief of state and head of government Council of Cabinet Ministers appointed and presided over by the monarch No Elections: The Monarch is hereditary Government

7. Mixture of foreign and domestic entrepreneurship, government regulation, welfare measures, and village tradition Crude oil and Natural Gas production account for about 90% of its GDP Fourth largest producer of oil in South-east Asia Depends heavily on imports of products like Agriculture, Motorcars and Electrical Products Imports 60% of its food requirements, which around 75% of those food imports come from the ASEAN countries Economy

8. Brunei's leaders are very concerned that steadily increased integration in the world economy will undermine internal social cohesion. But, it has become a more prominent player by serving as chairman for the 2000 Asia-Pacific Economic Cooperation (APEC) forum. Leaders plan to upgrade the labour force, reduce unemployment, which currently stands at 6%; strengthen the banking and tourism sectors, and, in general, broaden the economic base.

9. GDP PPP (2011) - $21.24 Billion GDP Real Growth Rate (2011) – 1.9% ; 2.6% in 2010 GDP Per Capita (2011) - $50000 Unemployment Rate (2010) – 2.7% Inflation Rate at CPI (2011) – 2%

10. Petroleum Petroleum Refining Construction Liquefied Natural Gas Major industries

11. Total Exports - $10.67 Billion (2008) Export Commodities – Crude Oil, Natural Gas, Garments Exports From Brunei

12. Total Imports - $2.61 Billion (2008) Import Commodities – Machinery and Transport Equipment, Manufactured Goods, Food, Chemicals Imports by Brunei

13. Agricultural & processed food products Textiles, garments & accessories Consumer goods Drugs & pharmaceuticals Auto parts Milk products Building Materials Sectors of Cooperation

14. TOPIC RANKINGS DB 2013 Rank DB 2012 Rank Change in Rank Starting a Business 135 137  2 Dealing with Construction Permits 43 88  45 Getting Electricity 29 29 No change Registering Property 115 113  -2 Getting Credit 129 127  -2 Protecting Investors 117 114  -3 Paying Taxes 22 21  -1 Trading Across Borders 40 36  -4 Enforcing Contracts 158 158 No change Resolving Insolvency 46 44  -2 Doing Business’ Rank – 79th out of 183 Countries Rankings

15. Global Competitiveness Index Rank – 28 th out of 142 Countries with a score of 4.8 out of seven GCIR

16. Eradicate extreme poverty and hunger Achieve universal primary education Promote gender equality and empower women Reduce child mortality Improve maternal health Combat HIV/AIDS, malaria and other disease Ensure environmental sustainability Develop a global partnership for development MDG - Brunei

17. Based on Brunei Darussalam’s Household Expenditure Survey 2005, absolute deprivation is inexistent Universal Primary Education Current Status

18. Infant Morality Rate

19. Brunei Darussalam's FTA Policy

20. Brunei Darussalam views Free Trade Agreements (FTAs) as a vital part of its foreign trade policy to maximise the potentials of free and open trade for its people in an ever-globalising world. With a relatively free and open trading regime, as well as a small but highly educated workforce, Brunei Darussalam sees engagement on FTAs as an important step in ensuring that its people, goods, services and investments have continued access to wider markets around the world. Bilaterally , Brunei Darussalam has concluded an Economic Partnership Agreement with Japan (the Brunei-Japan Economic Partnership Agreement or “BJEPA”) and a plurilateral agreement with Chile, New Zealand and Singapore (the Trans Pacific Strategic Economic Partnership or more commonly referred to as the “P4 ”)

21. The BJEPA is Brunei Darussalam’s first bilateral free trade agreement . The Agreement was signed by the leaders of both Brunei Darussalam and Japan on 18 June 2007, and entered into force on 31 July 2008. The Agreement is hoped to enhance Brunei Darussalam’s investment climate and encourage foreign direct investments (FDI) through greater predictability and transparency . Market access between Brunei Darussalam and Japan will also be improved in terms of goods (through the reduction of import duties) and services. Marking the long-standing relationship between both countries, the Agreement also has chapters on Energy, Improvement of Business Environment and Cooperation which will help further strengthen bilateral ties to a higher level of partnership .

22. Brunei signed the P4 on 2 August 2005 and deposited its Instrument of Provisional Application to New Zealand as the depository of the Agreement on 12 June 2006. The Agreement came into force for Brunei Darussalam on 12 July 2006, and will bring about strategic benefits for all four partners, Brunei Darussalam, Chile, New Zealand and Singapore, and in effect build a bridge between Latin America, the Pacific and Asia. It will encourage Brunei, Chile, Singapore and New Zealand to pool their expertise, ideas, technology and resources to improve their competitiveness on the global market. The Agreement will also help advance shared objectives in APEC and the WTO.

23. Brunei Economy 2013

24. Economy - overview Brunei has a small well-to-do economy that depends on revenue from natural resource extraction but encompasses a mixture of foreign and domestic entrepreneurship, government regulation, welfare measures, and village tradition.  Crude oil and natural gas production account for just over half of GDP and more than 90% of exports. Per capita GDP is among the highest in Asia, and substantial income from overseas investment supplements income from domestic production. The government provides for all medical services and free education through the university level and subsidizes rice and housing. A new monetary authority was established in January 2011 with responsibilities that include monetary policy, monitoring of financial institutions, and currency trading activities.

25. GDP ( purchasing power parity ) $21.94 billion (2012 est.)  $ 21.38 billion (2011 est.)  $ 20.91 billion (2010 est.)  note : data are in 2012 US dollars

26. GDP (official exchange rate) $16.85 billion (2012 est.) GDP - real growth rate 2.7% (2012 est.)  2.2 % (2011 est.)  2.6 % (2010 est.)

27. GDP - per capita (PPP) $50,500 (2012 est.)  $ 50,300 (2011 est.)  $ 50,500 (2010 est.)  note :  data are in 2012 US dollars

28. GDP - composition by sector agriculture:  0.8 industry :  66.6% services : 32.6% (2012 est

29. Labor force 198,800 (2010 est.) Labor force - by occupation agriculture: 4.2%  industry : 62.8%  services : 33% (2008 est.)

30. Unemployment rate 2.7% (2010)  3.7 % (2008)

31. Household income or consumption by percentage share lowest 10%:  NA%  highest 10%:  NA%

32. Budget revenues: $8.24 billion  expenditures : $5.52 billion (2012 est.)

33. Taxes and other revenues 48.9% of GDP (2012 est.)

34. Budget surplus (+) or deficit (-) 16.1% of GDP (2012 est.)

35. Inflation rate (consumer prices) 1.2% (2012 est.)  2 % (2011 est.)

36. Commercial bank prime lending rate 5.5% (31 December 2012 est.)  5.5 % (31 December 2011 est.)

37. Stock of narrow money $3.594 billion (31 December 2012 est.)  $ 3.254 billion (31 December 2011 est.)

38. Stock of money $3.374 billion (30 March 2009)  $ 3.046 billion (31 December 2008)

39. Stock of broad money $11.62 billion (31 December 2012 est.)  $ 10.64 billion (31 December 2011 est.)

40. Stock of quasi money $8.151 billion (30 March 2009)  $ 4.551 billion (31 December 2008) Stock of domestic credit $4.032 billion (31 December 2011 est.)  $ 3.019 billion (31 December 2010 est.)

41. Agriculture - products rice, vegetables, fruits; chickens, water buffalo, cattle, goats, eggs Industries petroleum,  petroleum refining , liquefied natural gas, construction Industrial production growth rate -5.4% (2008 est.)

42. Current Account Balance $3.977 billion (2009 est.)  $ 3.977 billion (2009 est.)

43. Exports $10.67 billion (2008)  $ 8.25 billion (2007) Exports - commodities crude oil, natural gas, garments Exports - partners Japan 45.2%, South Korea 15.9%, Australia 11.4%, Indonesia 8.1%, India 5.7%, China 4.4% (2011)

44. Imports $2.61 billion (2008 est.)  $ 2.055 billion (2007 est.) Imports - commodities machinery and transport equipment, manufactured goods, food, chemicals Imports - partners Singapore 27.4%, India 15.4%, China 12.8%, South Korea 10.1%, Malaysia 9.4%, Germany 7.9% (2011)

45. Debt - external $0 (2005) Exchange rates Bruneian dollars (BND) per US dollar -  1.25 (2012 est.)  1.2579 (2011 est.)  1.3635 (2010 est.)  1.45 (2009) Fiscal year 1 April - 31 March