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Brunei is a country with a small, wealthy economy that is a mixture of foreign and domestic entrepreneurship, government regulation and welfare measures, and village tradition. It is almost totally supported by exports of crude oil and natural gas, with revenues from the petroleum sector accounting for over half of GDP. Per capita GDP is high, and substantial income from overseas investment supplements income from domestic production. The government provides for all medical services and subsidizes food and housing. The government has shown progress in its basic policy of diversifying the economy away from oil and gas. Brunei's leaders are concerned that steadily increased integration in the world economy will undermine internal social cohesion although it has taken steps to become a more prominent player by serving as chairman for the 2000 APEC (Asian Pacific Economic Cooperation) forum. Growth in 1999 is estimated at 2.5% due to higher oil prices in the second half.
Brunei is the third-largest oil producer in Southeast Asia, averaging about 180,000 barrels per day (29,000 m3/d). It also is the fourth-largest producer of liquefied natural gas in the world.
This page contains text from Wikipedia, the Free Encyclopedia -
http://en.wikipedia.org/wiki/Economy_of_Brunei
This article is licensed under the Creative Commons Attribution-ShareAlike 3.0 Unported License, which means that you can copy and modify it as long as the entire work (including additions) remains under this license.
This article is licensed under the Creative Commons Attribution-ShareAlike 3.0 Unported License, which means that you can copy and modify it as long as the entire work (including additions) remains under this license.
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Brunei 
i/bruːˈnaɪ/, officially the Nation of Brunei, the Abode of Peace (Malay: Negara Brunei Darussalam, Jawi: نڬارا بروني دارالسلام), 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, with the remainder of the island belonging to Malaysia and Indonesia. Brunei's population was 401,890 in July 2011.
The official national history claims that Brunei can trace its beginnings to the 7th century, when it was a subject state of the Srivijayan empire under the name P'o-li. It later became a vassal state of Majapahit empire before converting to Islam in the 15th century. At the peak of its empire, the sultanate had control that extended over the coastal regions of modern-day Sarawak and Sabah, the Sulu archipelago, and the islands off the northwest tip of Borneo. The thalassocracy was visited by Ferdinand Magellan in 1521 and fought the Castille War in 1578 against Spain. Its empire began to decline with the forced ceding of Sarawak to James Brooke and the ceding of Sabah to the British North Borneo Chartered Company. After the loss of Limbang, Brunei finally became a British protectorate in 1888, receiving a resident in 1906. In the years after the Japanese wartime occupation during World War II, it formalised a constitution and fought an armed rebellion. Brunei regained its independence from the United Kingdom on 1 January 1984. Economic growth during the 1970s and 1990s, averaging 56% from 1999 to 2008, has transformed Brunei Darussalam into a newly industrialised country.
This page contains text from Wikipedia, the Free Encyclopedia -
http://en.wikipedia.org/wiki/Brunei
This article is licensed under the Creative Commons Attribution-ShareAlike 3.0 Unported License, which means that you can copy and modify it as long as the entire work (including additions) remains under this license.
This article is licensed under the Creative Commons Attribution-ShareAlike 3.0 Unported License, which means that you can copy and modify it as long as the entire work (including additions) remains under this license.