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Phone Code: 00673Root-level Domain Code: .bn
Phone Code: 00673
Root-level Domain Code: .bn
Background: The Sultanate of Brunei's influence peaked between the 15th and 17th centuries when its control extended over coastal areas of northwest Borneo and the southern Philippines. Brunei subsequently entered a period of decline brought on by internal strife over royal succession, colonial expansion of European powers, and piracy. In 1888, Brunei became a British protectorate; independence was achieved in 1984. The same family has ruled Brunei for over six centuries. Brunei benefits from extensive petroleum and natural gas fields, the source of one of the highest per capita GDPs in Asia.
Economy Overview: This small, well-to-do economy encompasses a mixture of foreign and domestic entrepreneurship, government regulation, welfare measures, and village tradition. Crude oil and natural gas production account for just over half of GDP and more than 90% of exports. Per capita GDP is among the highest in Asia, and substantial income from overseas investment supplements income from domestic production. The government provides for all medical services and free education through the university level and subsidizes rice and housing. Brunei's leaders are concerned that steadily increased integration in the world economy will undermine internal social cohesion. Plans for the future include upgrading the labor force, reducing unemployment, strengthening the banking and tourist sectors, and, in general, further widening the economic base beyond oil and gas.
Geography Note: close to vital sea lanes through South China Sea linking Indian and Pacific Oceans; two parts physically separated by Malaysia; almost an enclave within Malaysia
Location: Southeastern Asia, bordering the South China Sea and Malaysia
Natural Resources: petroleum, natural gas, timber
Geographic Coordinates: 4 30 N, 114 40 E
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