Last remnant of an empire that once included Borneo and the southwestern Philippines, Brunei Sultanate, is now one of the smallest countries in the world. It represents two tiny earth chips located on the north coast of Sarawak. This small country is blessed with one of the largest oil fields in South Asia with one of the richest rulers of our planet. With its underground riches, Brunei was able to save most of its natural resources area, the country and has one of most intact primary tropical forests of Borneo. It shares the island with Malaysia and Indonesia. It is surrounded by the South China Sea and Malaysia, and directed since 1968 by Sultan Hassanal Bolkiah. Former British protectorate, it is one of six members of the Commonwealth which has its own monarchy.
Official name: Brunei Darussalam
Type of government: absolute monarchy
Head of State (since 1967) and the Government (Prime Minister since 1984): Sultan Haji Hassanal Bolkiah
Area: 5765 km²
Capital: Bandar Seri Begawan
Main cities: Kuala Belait, Tutong, Jerudong
Official Language: Malay
common languages: Malay, English, Chinese
Currency: Bruneian dollar, the Singapore dollar equivalent (1 EUR = 1.60 BND 31.12.2014
National Day: February 23 (late British protectorate and independence in 1984)
Located on the northern coast of Borneo (which bears his name), the Brunei Sultanate extends over 5765 km², between the South China Sea and Malaysian Sarawak. Its territory is composed of two distinct parts separated by the Limbang valley, which belongs to Malaysia. The western part, floodplain and marshland, is the largest; it is divided into three districts: Brunei-Muara District, Tutong and Belait. The eastern part, more mountainous, culminating at nearly 2000 meters at Mount Pagon, forms the district of Temburong. The equatorial forest covers more than three quarters of the country. Located in the Asian equatorial zone, however, escaping the typhoons, the Sultanate enjoys a warm and humid climate, with frequent rain in all seasons.
Population: 417,000 inhabitants
Density: 71,4hb / km²
Population growth: 1.4%
Life expectancy at birth: 75.9 for women, 78.8 for men
Literacy rate: 97.6%
Religions: Islam (official religion; 75%),
Human Development Index: 0.855 (very high, 30th in the world)
Brunei’s population is Malay majority (66%), but also has a Chinese community (10%) and indigenous ethnic groups: Kedayan, Tutong, Belait, Dusun, Murut, Dayak, Bisayah … (20%).
This population is very young: more than 50% less than twenty-four.
GDP: 17.4 billion USD
GDP per capita in PPP: 79 896 USD (IMF, October 2015)
GDP per capita: 460 41 USD (IMF, October 2015)
Growth Rate: 5.3%
unemployment rate (according to ILO): 1.7%
Inflation rate – 0.2%
Budget balance: USD 600 million
Trade balance: +6.7 bn USD (Brunei department of statistics)
Major customers: Japan (37.2%), South Korea (11%), India (9.1%), Australia (7.6%), Indonesia (6%)
Main suppliers: Malaysia (20.6%), Singapore (20.5%), China (9.9%), European Union (13.9%), USA (9.9%)
(Source: World Bank)
Share of main sectors in GDP:
industry: 68% (63% oil and gas)
Exports from France to Brunei: EUR 5.1 million
French imports from Brunei: EUR 1.2 million
trade surplus for France: EUR 3.9 million
Bilateral trade: EUR 6.3 million
Market share in France: 0.1%
(Sources: French Customs, DGTrésor)
Embassy of France Bandar Seri Begawan
French community in Brunei: 187 people in 2014
Bruneian community in France: about 30 people
Main income sources
Strengths / weaknesses
– With France
Barriers to entry
Source : www.diplomatie.gouv.fr
Good to know
The Brunei dollar (ISO 4217: BND), also known as Ringgit Brunei, has been the currency of the Sultanate of Brunei since the end of the monetary union between Malaysia, Singapore and Brunei in 1967. Singapore accepts the Brunei dollar as “customary tender”, and the Monetary Authority of Singapore manages both currencies together at a 1:1 ratio.
Brunei’s central bank is the Monetary Authority of Brunei Darussalam.
The Euro to Brunei dollar exchange rate converts at 1.54 on May the 30th, 2016
Where to go?
How to settle there?
To do business
Individual income tax
There is no personal income tax in Brunei
Corporate income tax
Brunei applies a flat rate of 18,5 %
There are no indirect taxes in Brunei