Brunei Facts and Figures

Brunei: Location and Significant Organizations
Brunei, located on the northern coast of the island of Borneo in Southeast Asia, is a sovereign state known for its rich oil resources and unique socio-political structure. Bandar Seri Begawan, the capital, serves as the country's political and economic hub. Brunei has been an active participant in various international organizations, notably joining the United Nations in 1984 and the Association of Southeast Asian Nations (ASEAN) in 1984.

Significant Historical and Political Events
Throughout its history, Brunei has experienced pivotal events that shaped its trajectory. One of the most transformative was the signing of the Brunei Constitution in 1959, which paved the way for greater self-governance and marked a significant step towards modernization. Another critical juncture was the discovery of oil in the early 20th century, which catalyzed Brunei's economic growth and positioned it as one of the wealthiest nations in Southeast Asia.

Demographics Overview
Brunei's population reached 452,524 in 2023, growing at a rate of 0.8%, with a density of 85 people per square kilometer. The working-age population, comprising 71.8% of the total, signifies a robust labor force conducive to economic productivity. The median age of 33 years (as of 2024) indicates a relatively youthful demographic profile, suggesting potential for long-term economic dynamism and the necessity for targeted youth-oriented policies. Brunei's fertility rate stands at 1.8 (in 2022), pointing to a stable population growth trajectory. Life expectancy at birth is 75 years (in 2022), reflecting improvements in healthcare and living standards. The crude death rate is 5.4 per 1,000 persons, while Brunei's infant mortality rate is 8.5 per 1,000 live births, highlighting ongoing healthcare challenges for infants. Urbanization is prevalent, with 79.1% of the population residing in urban areas, underscoring rapid urban development and associated infrastructure needs.

Economic Landscape
Brunei's economy, valued at $15.13 billion in 2023, reflects a degree of stability despite ongoing challenges. The GDP growth rate is modest at 1.4%, placing Brunei 135th globally. Inflation rates remained low at 0.4% in 2023 and rose notably to 1.3% in 2024, indicating a substantial increase in price levels. Brunei maintains a trade surplus, with exports totaling $9,090 million and imports at $6,317 million in 2023, contributing to a positive trade balance of $2,773 million. The unemployment rate stood at 5.2% in 2022, highlighting labor market dynamics. Sectoral contributions to GDP show dominance in industry at 67.9%, with manufacturing constituting 22.1% in 2022, while services contribute 32.5%. Market research in Brunei can uncover opportunities across these sectors amidst the country's economic diversification efforts.

Fiscal Overview
In 2023, the country maintained a positive net lending position, amounting to 2.53% of GDP, reflecting prudent fiscal policies amidst economic challenges. The general government debt remained low at 2.06% of GDP in 2022, indicating a conservative approach to borrowing. Brunei's economic strategy emphasizes sustainable development, supported by a historical trend of low net official development assistance (ODA) at 0.1% of GNI in 1995, underscoring self-reliance in development financing. These indicators suggest a balanced fiscal stance and effective debt management practices, positioning Brunei favorably for future economic stability and growth.

Military Overview
Over the years, Brunei has maintained a consistent approach to military readiness and capability enhancement, adapting to regional security dynamics. Brunei's military remains robust with 7,000 personnel as of 2016, indicating a significant presence relative to its population size. Military spending, amounting to 2.4% of GDP in 2022, underscores the country's commitment to defense and security measures. The military personnel as a share of the total population was notably high at 165.5% in 2016, reflecting the strategic importance placed on national defense. These indicators highlight Brunei's proactive stance in safeguarding national interests and contributing to regional stability, supported by sustained defense investments and strategic military partnerships.

In conclusion, Brunei presents a dynamic landscape across economy, demographics, digital usage, military, and politics. With a resilient economy showing strategic fiscal management, a youthful demographic profile, advancing digital connectivity, and a robust military presence, the country underscores its commitment to stability and growth. Partnering with a market research agency in Brunei is pivotal for leveraging these insights into strategic opportunities and navigating evolving market dynamics. As Brunei continues to develop, understanding these facets will be crucial for businesses and policymakers alike to make informed decisions and foster sustainable development in the region.