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World > Middle East > Bahrain > Economy (Facts)

Bahrain - Economy (Facts)
Economy - overview: With its highly developed communication and transport facilities, Bahrain is home to numerous multinational firms with business in the Gulf. Petroleum production and refining account for over 60% of Bahrain's export receipts, over 70% of government revenues, and 11% of GDP (exclusive of allied industries), underpinning Bahrain's strong economic growth in recent years. Other major segments of Bahrain's economy are the financial and construction sectors. Bahrain is actively pursuing the diversification and privatization of its economy to reduce the country's dependence on oil. As part of this effort, in August 2006 Bahrain and the US implemented a Free Trade Agreement (FTA), the first FTA between the US and a Gulf state. Unemployment, especially among the young, and the depletion of oil and underground water resources are major long-term economic problems.
GDP - real growth rate: 7.8% (2006 est.)
GDP (purchasing power parity): $18.02 billion (2006 est.)
GDP (official exchange rate): $12.14 billion (2006 est.)
GDP - per capita (PPP): $25,800 (2006 est.)
GDP - composition by sector: agriculture: 0.5%
industry: 38.7%
services: 60.8% (2005 est.)
Population below poverty line: NA
Household income or consumption by percentage share: lowest 10%: NA
highest 10%: NA
Inflation rate (consumer prices): 3.5% (2006 est.)
Labor force: 352,000
note: 44% of the population in the 15-64 age group is non-national (2006 est.)
Labor force - by occupation: agriculture: 1%
industry: 79%
services: 20% (1997 est.)
Unemployment rate: 15% (2005 est.)
Budget: revenues: $5.582 billion
expenditures: $4.197 billion; including capital expenditures of $700 million (2006 est.)
Industries: petroleum processing and refining, aluminum smelting, iron pelletization, fertilizers, offshore banking, insurance, ship repairing, tourism
Industrial production growth rate: 2% (2000 est.)
Electricity - production: 7.794 billion kWh (2004)
Electricity - consumption: 7.248 billion kWh (2004)
Electricity - exports: 0 kWh (2004)
Electricity - imports: 0 kWh (2004)
Oil - production: 188,300 bbl/day (2005 est.)
Oil - consumption: 27,000 bbl/day (2004 est.)
Oil - exports: NA bbl/day
Oil - imports: NA bbl/day
Oil - proved reserves: 121 million bbl (2006 est.)
Natural gas - production: 9.75 billion cu m (2004 est.)
Natural gas - exports: 0 cu m (2004 est.)
Natural gas - imports: 0 cu m (2004 est.)
Agriculture - products: fruit, vegetables; poultry, dairy products; shrimp, fish
Exports: $12.62 billion (2006 est.)
Exports - commodities: petroleum and petroleum products, aluminum, textiles
Exports - partners: NA
Imports: $9.036 billion (2006 est.)
Imports - commodities: crude oil, machinery, chemicals
Imports - partners: Saudi Arabia 37.3%, Japan 6.8%, US 6.2%, UK 6.2%, Germany 5%, UAE 4.2% (2006)
Debt - external: $7.267 billion (2006 est.)
Economic aid - recipient: $150 million; note - $50 million annually since 1992 from the UAE and Kuwait (2002)
Currency: Bahraini Dinar (BHD)
Currency code: BHD
Exchange rates: Bahraini dinars per US dollar - 0.376 (2006), 0.376 (2005), 0.376 (2004), 0.376 (2003), 0.376 (2002)
Fiscal year: calendar year


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Military - Climate - Current Time - Ranking Positions
Notes and Commentary: People - Economy - Government and Political Conditions - Historical Highlights - Foreign Relations - Relations with U.S.



Facts at a Glance
Geography
People
Government
Economy
Communications
Transportation
Military
Climate
Current Time
Ranking Positions


Notes and Commentary
People
Economy
Government and Political Conditions
Historical Highlights
Foreign Relations
Relations with U.S.





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