Brunei is a small but wealthy country in Southeast Asia, known for its oil and gas reserves, its Islamic monarchy, and its high standard of living. But how much do people in Brunei actually earn? What is the average income in Brunei, and how does it compare to other countries in the region and the world? In this blog post, we will answer these questions and more, using data from various sources and surveys. We will also explore the factors that affect the income levels in Brunei, such as gender, education, and occupation. By the end of this post, you will have a better understanding of the economic situation and the income distribution in Brunei.
What is the Average Income in Brunei?
The average income in Brunei is the total income of the population divided by the number of people. This is also known as the mean income or the per capita income. According to the World Bank, the average income in Brunei was 31,410 USD in 2019, which is equivalent to 2,620 BND per month. This makes Brunei one of the richest countries in the world, ranking 19th out of 189 countries in terms of average income. Boasting an annual average income of $31,410, Brunei ranks among the world’s affluent nations. When accounting for purchasing power parity, this small sultanate maintains its position within the top 20 wealthiest countries globally.
However, the average income does not tell the whole story, as it can be skewed by outliers and extremes. For example, if one person earns 1 million BND and nine others earn 10,000 BND, the average income would be 109,000 BND, which is much higher than the actual income of most people. Therefore, it is also useful to look at the median income, which is the income that divides the population into two equal groups: 50% of the people earn more than the median income, and 50% earn less. The median income is more representative of the typical income of the population, as it is less affected by outliers and extremes.
According to the Salary Explorer website, which collects data from salary surveys, the median income in Brunei was 2,870 BND per month in 2020. This means that half of the people in Brunei earned more than 2,870 BND per month, and half earned less. The median income is lower than the average income, which suggests that there is some income inequality in Brunei, meaning that some people earn much more than others.
How Does the Average Income in Brunei Vary by Gender, Education, and Occupation?
The average income in Brunei is not the same for everyone, as it can vary depending on various factors, such as gender, education, and occupation. Let’s take a look at how these factors affect the income levels in Brunei.
Gender
Gender is one of the factors that influence the income gap in Brunei, as men and women tend to earn different amounts of money. According to the Salary Explorer website, the average income for men in Brunei was 65,941 BND per year in 2020, while the average income for women was 41,479 BND per year. This means that men earned 59% more than women on average, which is a significant difference. The gender pay gap in Brunei is higher than the global average, which was 16% in 2020 according to the World Economic Forum.
There are many possible reasons for the gender pay gap in Brunei, such as discrimination, social norms, occupational segregation, and work-life balance. For example, women may face barriers and biases in accessing education, training, and career opportunities, or they may be expected to take on more unpaid domestic and care work, which limits their time and availability for paid work. Moreover, women may be concentrated in lower-paying sectors and occupations, such as education, health, and service, while men may dominate higher-paying sectors and occupations, such as engineering, management, and finance.
Education
Education is another factor that affects the income levels in Brunei, as people with higher levels of education tend to earn more money than people with lower levels of education. This is because education can provide people with the skills, knowledge, and qualifications that are valued and demanded by the labor market, and that can increase their productivity, employability, and bargaining power. According to the Salary Explorer website, the average income by education level in Brunei was as follows in 2020:
- Below High School: 71,259 BND per year
- High School: 38,435 BND per year
- Bachelors Degree: 54,948 BND per year
- Masters Degree: 78,133 BND per year
- Doctorate Degree: 82,692 BND per year
The average income increases with the level of education, with the exception of below high school, which is surprisingly high. This may be due to the fact that there are few people with this level of education in Brunei, and they may be working in specialized or niche fields that pay well. However, the general trend is clear: the more education you have, the more money you can earn in Brunei.
Occupation
Occupation is another factor that influences the income levels in Brunei, as different jobs have different levels of demand, supply, skill, responsibility, and risk, which affect their wages and salaries. According to the Salary Explorer website, the average income by occupation in Brunei was as follows in 2020:
- Automobile: 137,732 BND per year
- Salesmen & Saleswomen: 122,178 BND per year
- Engineers & Technicians V: 115,000 BND per year
- Management & Business: 97,519 BND per year
- Engineers & Technicians III: 87,500 BND per year
- Accounting & Administration: 64,500 BND per year
- Health and Medical: 63,000 BND per year
- Education & University: 60,000 BND per year
- Engineers & Technicians II: 58,000 BND per year
- IT & Telecommunication II: 55,000 BND per year
As you can see, the average income varies widely by occupation, with some jobs paying much more than others. The highest-paying occupations in Brunei are related to the automobile and sales sectors, which may reflect the high demand and profitability of these industries in the country. The lowest-paying occupations are related to education and IT, which may indicate the low supply or recognition of these skills in the country.
How Does the Average Income in Brunei Compare to Other Countries?
The average income in Brunei is not only affected by the internal factors of the country, but also by the external factors of the global economy. Therefore, it is interesting to compare the average income in Brunei to other countries in the region and the world, to see how Brunei stands in the international context. According to the World Bank, the average income by country in 2019 was as follows:
- Luxembourg: 116,560 USD
- Switzerland: 85,500 USD
- Norway: 77,640 USD
- United States: 65,280 USD
- Singapore: 65,230 USD
- Brunei: 31,410 USD
- Malaysia: 11,370 USD
- Thailand: 7,800 USD
- Indonesia: 4,140 USD
- Vietnam: 2,740 USD
- Cambodia: 1,510 USD
The average income in Brunei is much higher than most of its neighboring countries in Southeast Asia, such as Malaysia, Thailand, Indonesia, Vietnam, and Cambodia. This shows that Brunei has a strong and prosperous economy, thanks to its abundant natural resources and strategic location. However, the average income in Brunei is also much lower than some of the developed countries in the world, such as Luxembourg, Switzerland, Norway, United States, and Singapore. This suggests that Brunei still has room for improvement and diversification, especially in terms of innovation, technology, and human capital.
Conclusion
We have explored the average income in Brunei, and how it varies by gender, education, and occupation. We have also compared the average income in Brunei to other countries in the region and the world. We have learned that Brunei is a rich and high-income country, but also that it faces some challenges and opportunities for further development and growth.
