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Bahrain:
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Other pages in this profile of Bahrain:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.
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Economy - overview |
Definition 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. Aluminum is Bahrain's second major export after oil. Other major segments of Bahrain's economy are the financial and construction sectors. Bahrain is focused on Islamic banking and is competing on an international scale with Malaysia as a worldwide banking center. 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. Continued strong growth hinges on Bahrain's ability to acquire new natural gas supplies as feedstock to support its expanding petrochemical and aluminum industries. Unemployment, especially among the young, and the depletion of oil and underground water resources are long-term economic problems. |
GDP (purchasing power parity) |
Definition - World rank and map $24.5 billion (2007 est.) |
GDP (official exchange rate) |
Definition $19.66 billion (2007 est.) |
GDP - real growth rate |
Definition - World rank and map 6.6% (2007 est.) |
GDP - per capita |
Definition - World rank and map $32,100 (2007 est.) |
GDP - composition by sector |
Definition agriculture: 0.3% industry: 43.6% services: 56% (2007 est.) |
Labor force |
Definition 363,000 note: 44% of the population in the 15-64 age group is non-national (2007 est.) |
Labor force - by occupation |
Definition agriculture: 1% industry: 79% services: 20% (1997 est.) |
Unemployment rate |
Definition - World rank and map 15% (2005 est.) |
Population below poverty line |
Definition NA% |
Household income or consumption by percentage share |
Definition lowest 10%: NA% highest 10%: NA% |
Inflation rate (consumer prices) |
Definition - World rank and map 3.4% (2007 est.) |
Investment (gross fixed) |
Definition - World rank and map 17.7% of GDP (2007 est.) |
Budget |
Definition revenues: $6.168 billion expenditures: $5.205 billion (2007 est.) |
Public debt |
Definition - World rank and map 29.4% of GDP (2007 est.) |
Agriculture - products |
Definition fruit, vegetables; poultry, dairy products; shrimp, fish |
Industries |
Definition petroleum processing and refining, aluminum smelting, iron pelletization, fertilizers, Islamic and offshore banking, insurance, ship repairing, tourism |
Industrial production growth rate |
Definition - World rank and map 5.2% (2007 est.) |
Electricity - production |
Definition - World rank and map 8.187 billion kWh (2005) |
Electricity - consumption |
Definition - World rank and map 7.614 billion kWh (2005) |
Electricity - consumption per capita |
Definition - World rank and map 10,600 kWh (2005) |
Electricity - exports |
Definition 0 kWh (2005) |
Electricity - imports |
Definition 0 kWh (2005) |
Oil - production |
Definition - World rank and map 184,000 bbl/day (2007 est.) |
Oil - consumption |
Definition - World rank and map 31,000 bbl/day (2005 est.) |
Oil - consumption per 1,000 people |
Definition - World rank and map 43.2 bbl/day (2005 est.) |
Oil - exports |
Definition - World rank and map 235,500 bbl/day (2004) |
Oil - imports |
Definition - World rank and map 216,300 bbl/day (2004) |
Oil - proved reserves |
Definition - World rank and map 118.6 million bbl (2007 est.) |
Natural gas - production |
Definition - World rank and map 10.27 billion cu m (2005 est.) |
Natural gas - consumption |
Definition - World rank and map 10.27 billion cu m (2005 est.) |
Natural gas - consumption per capita |
Definition - World rank and map 14,298 cu m (2005 est.) |
Natural gas - exports |
Definition - World rank and map 0 cu m (2005 est.) |
Natural gas - imports |
Definition - World rank and map 0 cu m (2005) |
Natural gas - proved reserves |
Definition - World rank and map 88.26 billion cu m (1 January 2006 est.) |
Current account balance |
Definition - World rank and map $3.913 billion (2007 est.) |
Exports |
Definition - World rank and map $13.44 billion (2007 est.) |
Exports - commodities |
Definition petroleum and petroleum products, aluminum, textiles |
Exports - partners |
Definition Saudi Arabia 3.5%, US 2.5%, UAE 2.5% (2006) |
Imports |
Definition - World rank and map $9.858 billion (2007 est.) |
Imports - commodities |
Definition crude oil, machinery, chemicals |
Imports - partners |
Definition Saudi Arabia 37.3%, Japan 7.1%, US 6.2%, UK 6.1%, Germany 4.6%, UAE 4.2%, China 4.1% (2006) |
Reserves of foreign exchange and gold |
Definition - World rank and map $4.101 billion (31 December 2007 est.) |
Debt - external |
Definition - World rank and map $7.895 billion (31 December 2007 est.) |
Stock of direct foreign investment - at home |
Definition $14.61 billion (2007 est.) |
Stock of direct foreign investment - abroad |
Definition $7.489 billion (2007 est.) |
Market value of publicly traded shares |
Definition $21.12 billion (2006) |
Economic aid - recipient |
Definition $103.9 million (2004) |
Currency (code) |
Definition Bahraini dinar (BHD) |
Exchange rates |
Definition Bahraini dinars per US dollar - 0.376 (2007), 0.376 (2006), 0.376 (2005), 0.376 (2004), 0.376 (2003) |
Fiscal year |
Definition calendar year |
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