Economy of brunei This decline was driven by reductions in both natural gas and liquefied natural gas (LNG) production. The political environment will remain stable in 2024-25, owing to the well-entrenched autocratic rule of the sultan, Hassanal Bolkiah Mu'izzaddin. Brunei is an energy-rich sultanate on the northern coast of Borneo in Southeast Asia. The economy of Brunei, a small and wealthy country, is a mixture of foreign and domestic entrepreneurship, government regulation and welfare measures, and village traditions. . com Brunei Economic Outlook. The economy of Brunei is characterized by its high per capita income Economic Overview. Brunei has a mixed economic system which includes a variety of private freedom, combined with centralized economic planning and government regulation. Expansion work on the Hengyi petrochemicals plant and work on raising capacity at Brunei Muara port will continue over the forecast period. [9] See full list on britannica. With a total land area of approximately 5,765 square kilometers and a population of around 460,000 people, Brunei is known for its rich natural resources, particularly oil and gas. Brunei boasts a well-educated, largely English-speaking population; excellent infrastructure; and a stable government intent on attracting foreign investment. Brunei Darussalam Key Economic Developments (BKED) Q4 & Annual 2024 Brunei Darussalam's economy contracted in Q4 2024, primarily due to a downturn in the Oil and Gas Sector. A wealthy oil-based economy: Brunei, a small but affluent Southeast Asian nation, derives much of its wealth from vast oil and natural gas reserves. The hydrocarbon sector accounts for around 60% of GDP and more than 90% of government revenue, making Brunei one of the richest countries in the region on a per capita basis. Oct 1, 2024 ยท Introduction Brunei, officially known as Brunei Darussalam, is a small, sovereign city-state located on the island of Borneo in Southeast Asia.