Brunei’s economy is almost totally dependent on the exploitation of its vast reserves of petroleum and natural gas. Although oil and gas revenues have allowed the state to give its citizens one of the highest per capita incomes in Asia, they also have made the country dependent on a single commodity that is subject to market fluctuations. In addition, Brunei must rely on imports for nearly all its manufactured goods and most of its food. In an effort to ensure the country’s economic stability, the government has since the late 20th century striven to diversify the economy by developing other sectors, such as agriculture, fisheries, tourism, and financial services.
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Brunei’s economy is almost totally dependent on the exploitation of its vast reserves of petroleum and natural gas. Although oil and gas revenues have allowed the state to give its citizens one of the highest per capita incomes in Asia, they also have made the country dependent on a single commodity that is subject to market fluctuations. In addition, Brunei must rely on imports for nearly all its manufactured goods and most of its food. In an effort to ensure the country’s economic stability, the government has since the late 20th century striven to diversify the economy by developing other sectors, such as agriculture, fisheries, tourism, and financial services.