Download Brunei

KCCI - Country Wrap
Brunei
(January 2014)
Brunei – a brief overview
Brunei is a sovereign state located on the north coast of the island of Borneo, in
Southeast Asia. Apart from its coastline with the South China Sea, it is completely
surrounded by the state of Sarawak, Malaysia; and it is separated into two parts by
the Sarawak district of Limbang. It is the only sovereign state completely on the island
of Borneo. The remainder of the island's territory is divided between the nations of
Malaysia and Indonesia. Brunei's population was 408,786 in July 2012.
Economic Indicators
Indicators
Unit
2011
2012 est.
GDP (PPP)
$ Bn
21.76
22.04
1.29%
$
55,400
55,300
-0.18%
GDP per Capita
GDP growth
Change
%
2.2
1.3
-0.90%
Forex Reserves
$ Bn
NA
NA
NA
External Debt
$ Bn
NA
NA
NA
Exports
$ Bn
12.75
NA
NA
Imports
$ Bn
3.02
NA
NA
Economy of Brunei
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 60% 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. For Bruneian
citizens the government provides for all medical services and free education through
the university level. The government of Brunei has been emphasizing through policy
and resource investments it strong desire to diversity its economy both within the oil
and gas sector and to new sectors.
Trade Balance
$ Bn
9.73
NA
NA
Current Account
$ Bn
NA
NA
NA
CPI
%
2.1
0.5
-1.60%
Unemployment
%
2.6
NA
NA
Discount Rate
%
NA
NA
NA
Key agri-products of Brunei
Key agri-products of Brunei are rice, vegetables, fruits; chickens, water buffalo, cattle,
goats and eggs.
-1
Sources: KCCI Research, CIA Factbook, TDAP, SBP
1.824
3.365
1.631
0.365
1.526
1.349
1.562
1.306
0.902
1
0.146
2
0.552
0.782
0.956
1.001
3
0.533
0.075
4
1.446
2.604
5
0.378
6
2.481
3.188
5.222
Pakistan's Trade with Brunei (FY04-Nov'13)
0
-2
-3
-4
Key Industries of Brunei
Key industries of Brunei are petroleum, petroleum refining, liquefied natural gas,
construction, agriculture and transportation.
Trade Balance ($ Mn)
Pak. Exports (Mn $)
Pak. Imports (Mn $)
Source: KCCI Research, SBP
Source: KCCI Research, SBP
Brunei Dollar Vs. Pakistani Rupee
Brunei's major trading commodities and partners
Major export commodities of Brunei are crude oil, natural gas, garments while its
major export partners are Japan 45.7%, South Korea 15.1%, Australia 9.1%, NZ 6.6%,
India 5.8%, Vietnam 4.7% (2012). Moreover, major import commodities are iron and
steel, motor vehicles, machinery and transport equipment, manufactured goods,
food, chemicals while its major import partners are Singapore 26.3%, China 21.3%, UK
21.3%, Malaysia 11.8% (2012).
Economic Relations between Pakistan and Brunei
Diplomatic relationship between Pakistan and Brunei are very warm and friendly, this
is primarily because both are Muslim countries and member of the Organization of
Islamic Cooperation (OIC). Pakistan maintains a High commission in Brunei, and Brunei
has an embassy in Islamabad, Pakistan. To further foster ties between the 2 countries,
Brunei-Pakistan Friendship Association (BPFA) was created in 2008. Defense
cooperation between the two countries remains strong. Brunei Darussalam and the
Islamic Republic of Pakistan signed a “Memorandum of Understanding on Defence
Cooperation” on 19 May 2004. Pakistan has so far trained up to 100 Bruneian trainees
at Pakistani military academies.
Bilateral Trade Relations between Pakistan and Brunei
Trade links between the 2 countries is small, largely because of Brunei small size.
Current trade volume between the two countries stands at ~$ 5Mn in FY13. To foster
trade and investment between the two countries Pakistan-Brunei Joint Investment
Company was created in November 2006. Brunei exports to Pakistan stood at $
3.18Mn in FY13 while Brunei's imports from Pakistan stood at $ 2.48Mn in FY13.
Trading Commodities between Pakistan and Brunei
Brunei's exports petroleum coke, printed circuits, cotton, synthetic rubber, electric
apparatus, etc. to Pakistan while it imports rice, ethyl alcohol, woven fabrics, bed and
table linen, stationary items, etc. from Pakistan.
Potential for enhancing bilateral trade relations between Brunei and Pakistan
There is much potential of enhancing trade between the two Muslim countries by
effective utilization of trade platforms and trade promotion institutions which would
turn out to be a win-win situation for both the nations.
1 Brunei Dollar is equal to 83.3 Pakistani Rupee as on Dec. 31, 2013
85.5
80.5
75.5
70.5
65.5
BND/PKR
Source: KCCI Research, OANDA.com
Key Memberships
Brunei is the member of many international organizations including ADB, APEC,
ARF, ASEAN, C, CP, EAS, G-77, IBRD, ICAO, ICC (NGOs), ICRM, IDA, IDB, IFRCS, ILO,
IMF, IMO, IMSO, Interpol, IOC, ISO (correspondent), ITSO, ITU, NAM, OIC, OPCW, UN,
UNCTAD, UNESCO, UNIFIL, UNWTO, UPU, WCO, WHO, WIPO, WMO, WTO
Pakistan's Export to Brunei - Commodity Wise (FY13)
Rice
Woven Fabrics of Syn. Staple Fibres
Others
Madeup Textile articles
Ethyl Alcohol
Meat of Bovine Animals
Bombs, Grenades, Cartridges and Parts
Woven Cotton Fabrics
Preparations of Veg. Fruits, Nuts
Fish Frozen
Dental Hygiene Preparations
Edible Vegetables
Clothing & Apparel
Pens, Ball Points & Pencils
Sports Articles & Equip. NES
Fruits
0.50
0.39
0.34
0.19
0.14
0.14
0.12
0.10
0.10
0.09
0.09
0.08
0.07
0.06
0.06
Not Available
0.02
0
0.1
Pak. Exports to Bhutan ($ Mn)
0.2
0.3
0.4
0.5
Source: KCCI Research, SBP
Disclaimer
This report has been prepared by KCCI Research & Development Cell. The
information contained herein have been compiled or arrived at based upon information
obtained from sources believed to be reliable and in good faith. Such information has not
been independently verified.Contact at: [email protected]