Trade between New Zealand and Brunei has been bolstered by the signing, in 2005, of the Trans-Pacific Strategic Economic Partnership (SEP), which establishes a free trade area spanning Asia, Latin America and the Pacific. Both New Zealand and Brunei are signatories, along with Chile and Singapore.
Here you will find a country brief with an economic overview for New Zealand companies interested in doing business in Brunei.
Brunei country brief
Brunei Darussalam’s GDP per capita of US$31,070 is the second highest per capita income in the ASEAN (the Association of Southeast Asian Nations) region. But with a population of around 390,000 citizens (plus a significant number of foreign workers) Brunei’s economy is small.
The oil and gas sector forms the backbone of the economy. But Brunei’s oil and gas reserves are conservatively estimated to last only another 20 years. Small-scale manufacturing and primary production are the predominant non-oil sectors.
The government is proactively diversifying the country’s sources of economic growth including pushes into tourism, transportation, financial services, developing oil and gas-related downstream activities and a port and industrial complex
