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Economy of Brunei vs Singapore compared: GDP & Debt

Updated on by Georank team

Brunei has a GDP of $15.3B compared to $547B for Singapore, ranking 142/197 and 28/197 by economy size, respectively.

Brunei has $351M in government debt (2.29% of GDP), compared to $950B (173.5% of GDP) in Singapore.

Brunei vs Singapore GDP by year

Brunei
Singapore
1x
Year GDP, current $
Brunei Singapore
2024 $15,340,808,592 $547,386,645,892
2023 $15,095,084,656 $505,439,514,078
2022 $16,681,536,467 $509,017,841,147
2021 $14,006,496,617 $436,591,382,250
2020 $12,005,799,654 $349,165,858,545
2019 $13,469,235,365 $376,161,998,830
2018 $13,566,908,391 $377,123,710,561
2017 $12,128,168,045 $343,673,334,902
2016 $11,400,266,045 $319,646,468,521
2015 $12,930,296,870 $307,998,545,269
2014 $17,097,797,386 $314,863,580,758
2013 $18,094,148,099 $307,576,360,585
2012 $19,048,443,341 $295,092,888,077
2011 $18,524,791,063 $279,356,499,090
2010 $13,707,121,038 $239,807,980,591
2009 $11,912,904,510 $194,150,283,772
2008 $15,926,456,515 $193,617,323,539
2007 $13,432,029,484 $180,941,701,358
2006 $12,644,616,419 $148,627,286,361
2005 $10,547,202,621 $127,807,848,728
2004 $8,619,178,774 $115,033,593,101
2003 $7,167,725,262 $97,646,401,096
2002 $6,333,082,876 $92,538,372,870
2001 $6,096,155,767 $89,793,790,670
2000 $6,570,999,088 $96,076,539,926
1999 $6,309,070,378 $86,286,849,755
1998 $5,550,846,020 $85,728,207,782
1997 $7,793,034,376 $100,123,787,215
1996 $7,663,377,306 $96,293,086,513
1995 $7,700,144,069 $87,812,540,788
1994 $6,467,782,518 $73,688,724,431
1993 $6,203,339,912 $60,603,815,716
1992 $6,327,966,435 $52,131,320,033
1991 $6,284,497,294 $45,466,164,978
1990 $6,039,881,087 $36,144,336,769
1989 $4,983,622,881 $30,465,364,739
1988 $4,535,130,305 $25,371,462,488
1987 $4,918,010,080 $20,919,215,578
1986 $4,190,280,003 $18,586,746,057
1985 $6,967,623,884 $19,156,532,746
1984 $7,632,788,075 $19,749,361,098
1983 $7,927,590,750 $17,784,112,150
1982 $8,932,198,186 $16,084,252,378
1981 $9,367,218,664 $14,175,228,844
1980 $10,795,432,294 $11,896,256,783
1979 $6,044,367,628 $9,296,921,724
1978 $4,100,423,674 $7,517,176,355
1977 $3,681,242,528 $6,618,585,074
1976 $3,054,765,590 $6,327,077,974
1975 $2,496,420,258 $5,633,673,930
1974 $2,319,576,214 $5,221,534,956
1973 $433,095,527 $3,696,213,333
1972 $270,822,782 $2,721,440,981
1971 $197,525,768 $2,263,785,444
1970 $179,078,929 $1,920,574,150
1969 $161,210,236 $1,659,893,768
1968 $160,818,236 $1,425,706,091
1967 $139,029,537 $1,238,035,816
1966 $132,757,528 $1,096,425,608
1965 $114,039,501 $974,644,096
1964 - $894,153,311
1963 - $917,608,012
1962 - $826,239,212
1961 - $764,629,788
1960 - $704,751,700

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/brunei/singapore | CC BY

GDP per capita in Brunei vs Singapore by year

Brunei
GDP per capita

GDP per capita, PPP
Singapore
GDP per capita

GDP per capita, PPP
1x
Year Current $
Brunei Singapore
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $33,153 $89,879 $90,674 $150,689
2023 $32,891 $85,033 $85,412 $143,786
2022 $36,633 $81,802 $90,299 $143,095
2021 $31,007 $78,249 $80,056 $132,617
2020 $26,834 $69,788 $61,410 $101,518
2019 $30,427 $69,354 $65,952 $105,335
2018 $30,988 $65,149 $66,882 $103,963
2017 $28,024 $61,658 $61,236 $95,744
2016 $26,663 $56,680 $57,006 $89,902
2015 $30,625 $62,708 $55,646 $87,156
2014 $41,027 $81,226 $57,565 $84,555
2013 $44,003 $83,237 $56,967 $83,088
2012 $46,969 $87,256 $55,548 $82,108
2011 $46,383 $82,735 $53,891 $80,052
2010 $34,938 $79,543 $47,237 $75,401
2009 $30,946 $77,957 $38,927 $66,213
2008 $42,157 $80,477 $40,009 $67,735
2007 $36,217 $83,693 $39,433 $68,805
2006 $34,675 $86,114 $33,768 $64,061
2005 $29,386 $81,534 $29,961 $58,822
2004 $24,423 $80,404 $27,608 $54,384
2003 $20,678 $79,632 $23,730 $48,778
2002 $18,621 $76,838 $22,160 $45,083
2001 $18,288 $74,254 $21,700 $43,109
2000 $20,130 $73,087 $23,853 $43,781
1999 $19,752 $70,585 $21,797 $39,949
1998 $17,769 $68,257 $21,829 $37,560
1997 $25,522 $73,980 $26,376 $39,286
1996 $25,692 $70,008 $26,233 $36,873
1995 $26,443 $70,440 $24,915 $35,090
1994 $22,767 $69,779 $21,552 $33,058
1993 $22,397 $69,387 $18,290 $30,062
1992 $23,451 $70,016 $16,136 $27,022
1991 $23,932 $72,610 $14,502 $25,530
1990 $23,659 $70,201 $11,862 $23,815
1989 $20,090 - $10,395 -
1988 $18,825 - $8,914 -
1987 $21,030 - $7,539 -
1986 $18,501 - $6,800 -
1985 $31,827 - $7,002 -
1984 $36,061 - $7,228 -
1983 $38,720 - $6,633 -
1982 $45,075 - $6,078 -
1981 $48,793 - $5,597 -
1980 $58,005 - $4,928 -
1979 $33,501 - $3,901 -
1978 $23,447 - $3,194 -
1977 $21,747 - $2,846 -
1976 $18,671 - $2,759 -
1975 $15,793 - $2,490 -
1974 $15,195 - $2,342 -
1973 $2,939 - $1,685 -
1972 $1,905 - $1,264 -
1971 $1,432 - $1,071 -
1970 $1,325 - $926 -
1969 $1,226 - $813 -
1968 $1,274 - $709 -
1967 $1,149 - $626 -
1966 $1,146 - $567 -
1965 $1,029 - $517 -
1964 - - $486 -
1963 - - $511 -
1962 - - $472 -
1961 - - $449 -
1960 - - $428 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/brunei/singapore | CC BY

Brunei's GDP per capita is $33,153, ranking 36/197, compared to $90,674 in Singapore, ranking 7/197. Adjusted for purchasing power (GDP per capita PPP), Brunei ranks 9th at $89,879, while Singapore ranks 2nd at $150,689.

Economic indicators

Brunei Singapore
Gross domestic product
$15.3B
2024
$547B
2024
GDP rank
142/197
2024
28/197
2024
GDP growth
4.05%
2023-2024
4.39%
2023-2024
GDP per capita
$33,153
2024
$90,674
2024
GDP per capita rank
36/197
2024
7/197
2024
GDP per capita, PPP
$89,879
2024
$150,689
2024
GDP per capita PPP rank
9/197
2024
2/197
2024
Government debt
$351M
2024
$950B
2024
Debt-to-GDP ratio
2.29%
2024
173.5%
2024
Government debt per person
$759
2024
$157,326
2024
Government debt per person rank
153/185
2024
1/185
2024
Average annual personal income after taxes
$24,405
2026
$52,793
2026
Market capitalization of domestic companies n/a
$638B
2024
Number of millionaires n/a
331,000
2025
Number of billionaires n/a
49
2025
Government expenditure, % of GDP
29.8%
2024
14.6%
2024
Consumer prices inflation
-0.39%
2023-2024
2.39%
2023-2024
Unemployment rate
4.87%
2024
2.74%
2024
Population
470884
6125852

Spending and national debt comparison by year

Brunei
Spending

Debt
Singapore
Spending

Debt
1x
Year % of GDP
Brunei Singapore
Government spending Government debt Government spending Government debt
2024 29.8% 2.29% 14.6% 173.5%
2023 29.4% 2.33% 14.8% 172.8%
2022 26.4% 2.06% 15% 154.3%
2021 29.3% 2.51% 15.6% 141.7%
2020 33.2% 2.86% 24.1% 148.2%
2019 32.4% 2.58% 14% 127.9%
2018 32.2% 2.59% 13.9% 109.4%
2017 36.6% 2.83% 13.6% 107.6%
2016 39.4% 3% 15.3% 106.3%
2015 38.7% 2.95% 14.4% 102.2%
2014 34.1% 3.23% 12.6% 97.7%
2013 33.6% 2.21% 10.9% 98.2%
2012 31% 2.1% 9.83% 106.7%
2011 29.7% 2.13% 9.66% 103.1%
2010 36.2% 1.11% 10.2% 98.7%
2009 34.8% 1.11% 15.9% 101.7%
2008 27.2% 0.94% 14% 97.9%
2007 29.3% 0.68% 9.01% 87.8%
2006 28% 0.59% 12.3% 86.5%
2005 29.1% 0% 12.4% 92.7%
2004 33.2% 0% 14.1% 95.7%
2003 30.9% 0% 15.6% 99.1%
2002 41.4% 0% 15.9% 96.3%
2001 35.5% 0% 18.2% 94.5%
2000 37.5% 0% 16.1% 82.3%
1999 44.1% 0% 15.9% 85.3%
1998 45.4% 0% 18.1% 84.6%
1997 39% 0% 14.5% 70.8%
1996 36.9% 0% 18.1% 71.3%
1995 44% 0% 13.8% 69.8%
1994 47.1% 0% 11.7% 70.7%
1993 38% 0% 14.5% 71.2%
1992 34.1% 0% 14.5% 79%
1991 30.6% 0% 15.9% 76.4%
1990 32% 0% 15.1% 73.5%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/brunei/singapore | CC BY

In 2024, Brunei's government spending was $4.57B, accounting for 29.8% of its GDP, while Singapore spent $79.7B, or 14.6% of GDP.

Debt-to-GDP ratio is 2.29% in Brunei and 173.5% in Singapore, ranking 185/185 and 4/185, respectively.

Government deficit by year

Deficit/surplus
Brunei

Singapore
1x
Year Deficit/surplus, % of GDP
Brunei Singapore
2024 -10.2% 4.44%
2023 -10.9% 3.47%
2022 2.53% 1.21%
2021 -8.16% 1.13%
2020 -15.8% -6.73%
2019 -3.69% 3.77%
2018 -3.59% 3.68%
2017 -10.4% 5.24%
2016 -21.7% 3.25%
2015 -14.5% 2.86%
2014 3.58% 4.6%
2013 13% 5.96%
2012 15.8% 7.34%
2011 25.6% 7.96%
2010 7.61% 5.68%
2009 3.61% -0.09%
2008 36.1% 3.59%
2007 3.12% 7.12%
2006 19.8% 2.16%
2005 16% 2.56%
2004 8.57% 2.06%
2003 8.06% 0.68%
2002 -4.61% 2.23%
2001 2.59% 1.2%
2000 6.86% 4.59%
1999 -18.3% 5.2%
1998 -24% 2.41%
1997 -11.8% 5.66%
1996 -8.7% 1.98%
1995 -19.8% 4.8%
1994 -22.6% 7.9%
1993 -12.8% 4.36%
1992 -8.28% 2.7%
1991 -1.06% 0.68%
1990 -1.63% 1.97%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/brunei/singapore | CC BY

In 2024, Brunei's government deficit, the difference between spending and revenue, was $1.56B, equivalent to 10.2% of GDP. This compares to Singapore's surplus of $24.3B, or 4.44% of GDP.

Over the past 35 years, Brunei recorded a fiscal deficit in 20 of those years, while Singapore ran a deficit in 2 years. On average, Brunei posted an annual deficit equal to 1.7% of GDP, compared to surplus of 3.36% of GDP for Singapore.

Inflation comparison by year

Inflation
Brunei

Singapore
1x
Year Consumer prices inflation
Brunei Singapore
2024 -0.39% 2.39%
2023 0.36% 4.83%
2022 3.68% 6.13%
2021 1.73% 2.32%
2020 1.94% -0.17%
2019 -0.39% 0.57%
2018 1.03% 0.44%
2017 -1.26% 0.58%
2016 -0.28% -0.53%
2015 -0.49% -0.52%
2014 -0.21% 1.03%
2013 0.39% 2.36%
2012 0.11% 4.58%
2011 0.14% 5.25%
2010 0.36% 2.83%
2009 1.04% 0.59%
2008 2.08% 6.64%
2007 0.97% 2.11%
2006 0.16% 0.97%
2005 1.24% 0.43%
2004 0.81% 1.66%
2003 0.3% 0.51%
2002 -2.31% -0.39%
2001 0.6% 1%
2000 1.56% 1.36%
1999 -0.42% 0.02%
1998 -0.44% -0.27%
1997 1.71% 2%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/brunei/singapore | CC BY

Over the past 28 years, Brunei has recorded an average annual inflation rate of 0.5%, compared with 1.74% in Singapore. In 2024, inflation was -0.39% in Brunei and 2.39% in Singapore.

Top exports between countries

Brunei
Export category Export value
Raw materials & minerals $1.33B
Machinery & equipment $106M
Metals $11M
Precious metals & jewellery $7.37M
Chemicals & pharma $4.1M
Animal & marine products $1.52M
Textiles & consumer goods $973K
Miscellaneous $339K
Wood & paper products $166K
Processed food, beverages & tobacco $22K
Singapore
Export category Export value
Precious metals & jewellery $1.66B
Machinery & equipment $396M
Chemicals & pharma $86.5M
Metals $50.2M
Textiles & consumer goods $43.3M
Processed food, beverages & tobacco $27M
Miscellaneous $19.1M
Raw agricultural goods $15.2M
Raw materials & minerals $13.8M
Animal & marine products $10.5M

Balance of trade

Brunei Singapore
Current account balance
$2.23B
2024
$96B
2024
Current account balance ranking
45/190
2024
8/190
2024
Current account balance, % of GDP
+14.5%
2024
+17.5%
2024
Goods imports
$7.36B
2024
$435B
2024
Goods exports
$11.1B
2024
$583B
2024
Service imports
$1.75B
2024
$351B
2024
Service exports
$410M
2024
$396B
2024
Imports of goods and services, % of GDP
58.3%
2024
143.6%
2024
Exports of goods and services, % of GDP
74.3%
2024
178.8%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Brunei Singapore
Economic freedom 67.5 84.4
Economic freedom ranking 55/197 1/197
Property rights 66.1 89.2
Government integrity 60.4 86.1
Judicial effectiveness 48.6 58.3
Tax burden 95 89.5
Government spending 75.6 93.4
Fiscal health 39 80
Business freedom 75.3 90.6
Labor freedom 75.1 77
Monetary freedom 74.8 83.5
Trade freedom 84.6 95
Investment freedom 65 90
Financial freedom 50 80

Economic freedom comparison by year

Brunei
Singapore
1x
Year Economic freedom index
Brunei Singapore
2026 67.5 84.4
2025 67 84.1
2024 65.9 83.5
2023 65.7 83.9
2022 64.8 84.4
2021 66.6 89.7
2020 66.6 89.4
2019 65.1 89.4
2018 64.2 88.8
2017 69.8 88.6
2016 67.3 87.8
2015 68.9 89.4
2014 69 89.4
2013 - 88
2012 - 87.5
2011 - 87.2
2010 - 86.1
2009 - 87.1
2008 - 87.3
2007 - 87.1
2006 - 88
2005 - 88.6
2004 - 88.9
2003 - 88.2
2002 - 87.4
2001 - 87.8
2000 - 87.7
1999 - 86.9
1998 - 87
1997 - 87.3
1996 - 86.5
1995 - 86.3

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/brunei/singapore | CC BY

The Economic Freedom Index for Brunei is 67.5, ranking 55/197, compared to 84.4 for Singapore, ranking 1/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Brunei Singapore
Services, % of GDP
39%
2024
73%
2024
Industry, % of GDP
61.7%
2024
21.4%
2024
Agriculture, forestry, and fishing, % of GDP
1.17%
2024
0.03%
2024
GNI, Atlas method
$16.7B
2024
$451B
2024
GNI per capita, PPP
$92,750
2024
$126,190
2024
Total reserves including gold
$4.41B
2024
$384B
2024
Total reserves ranking
105/177
2024
9/177
2024
Net foreign direct investment
-$29.1M
2024
-$96.7B
2024
Net inflows of foreign direct investment
$29.1M
2024
$152B
2024
Net outflows of foreign direct investment
$0
2024
$55.3B
2024
Gross capital formation, % of GDP
27.9%
2024
22.2%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/brunei/singapore | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.