Brunei’s economy is based mainly on a single resource: hydrocarbons , mainly the oil , used in this country since 1929. The marketing of this scarce resource allows the country to achieve a significant annual growth (4.1% in 2001), which affects the human development of countries: Brunei, which has an HDI of 0.865, is the 26 th world (135 countries) in 2010. It displays a GDP per capita of 31,800 dollars, no foreign debt, unemployment insignificant. Brunei is, according to World Bank , one of the countries of Asia where one lives the better.
Although hospital costs and tuition are free, non-existent taxes, Bruneian society is more disparate than it seems. Indeed, nearly 20% of Bruneians live below the poverty line.
In recent years, the presence of foreign and economic strength have improved women’s status in the territory. Only 20% of them worked in 1971, they are 57% in 2012, including 28% of senior managers.
Brunei is part of the Economic Cooperation Asia-Pacific Economic Cooperation (APEC) since 1989. Brunei is a signatory to the General Agreement on Tariffs and Trade (GATT) in 1992 and is therefore part of the WTO since 1995.
The Brunei government has launched a policy to facilitate the installation of foreign companies. Zones, tax exemption … In ten years, fifty companies are already established in Brunei. Since 2007, Brunei is also trying to develop tourism .
Contrainement to its neighbors ( Malaysia , Indonesia ), the Sultanate has never encouraged the timber trade. Result: 75% of the territory is still occupied by the jungle .