| Economy | Bahrain |
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Economy - overview:
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Bahrain is one of the most diversified economies in the Persian Gulf. Highly developed communication and transport facilities make Bahrain home to numerous multinational firms with business in the Gulf. As part of its diversification plans, Bahrain implemented a Free Trade Agreement (FTA) with the US in August 2006, the first FTA between the US and a Gulf state. Bahrain's economy, however, continues to depend heavily on oil. Petroleum production and refining account for more than 60% of Bahrain's export receipts, 70% of government revenues, and 11% of GDP (exclusive of allied industries). Other major economic activities are production of aluminum - Bahrain's second biggest export after oil - finance, and construction. Bahrain competes with Malaysia as a worldwide center for Islamic banking and continues to seek new natural gas supplies as feedstock to support its expanding petrochemical and aluminum industries. In 2011, Bahrain experienced economic setbacks as a result of domestic unrest. Bahrain's reputation as a financial hub of the Gulf has been damaged, and the country now risks losing financial institutions to other regional centers such as Dubai or Doha. Economic policies aimed at restoring confidence in Bahrain's economy, such as the suspension of an expatirate labor tax, will make Bahrain's foremost long-term economic challenges - youth unemployment and the growth of government debt - more difficult to address. |
GDP (purchasing power parity):
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$30.8 billion (2011 est.)
$30.4 billion (2010 est.)
$29.17 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
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$27,300 (2011 est.)
$27,500 (2010 est.)
$28,100 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
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$26.4 billion (2011 est.) |
GDP - real growth rate:
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1.5% (2011 est.)
4.1% (2010 est.)
3.1% (2009 est.) |
GDP - composition by sector:
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agriculture: 0.4%
industry: 63.7%
services: 35.9% (2011 est.) |
Investment (gross fixed):
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30.6% of GDP (2011 est.) |
Population below poverty line:
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NA% |
Household income or consumption by percentage share:
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lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
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void |
Inflation rate (consumer prices):
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0.3% (2011 est.)
2% (2010 est.) |
Central bank discount rate:
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0.5% (31 December 2010 est.)
0.5% (31 December 2009 est.) |
Commercial bank prime lending rate:
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7.3% (31 December 2011 est.)
7.25% (31 December 2010 est.) |
Stock of money:
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$4.997 billion (31 December 2008)
$4.169 billion (31 December 2007) |
Stock of money - per capita:
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4,114 USD per capita |
Stock of quasi money:
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$12.71 billion (31 December 2008)
$10.63 billion (31 December 2007) |
Stock of quasi money - per capita:
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10,464 USD per capita |
Stock of domestic credit:
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$19.58 billion (31 December 2011 est.)
$17.26 billion (31 December 2010 est.) |
Stock of domestic credit - per capita:
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16,120 USD per capita |
Stock of narrow money:
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$6.566 billion (31 December 2011 est.)
$6.127 billion (31 December 2010 est.) |
Stock of broad money:
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$22.99 billion (31 December 2011 est.)
$20.92 billion (31 December 2010 est.) |
Labor force:
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672,500
note: 44% of the population in the 15-64 age group is non-national (2011 est.) |
Labor force participation rate:
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55.36 % of population |
Labor force - by occupation:
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agriculture: 1%
industry: 79%
services: 20% (1997 est.) |
Unemployment rate:
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15% (2005 est.) |
Unemployment, youth ages 15-24:
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total: 20.1%
male: 17.2%
female: 27% (2001) |
Budget:
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revenues: $7.93 billion
expenditures: $8.297 billion (2011 est.) |
Budget revenues per capita:
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6,529 USD per capita |
Taxes and other revenues:
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30% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
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-1.4% of GDP (2011 est.) |
Public debt:
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75.3% of GDP (2011 est.)
60.1% of GDP (2010 est.) |
Industries:
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petroleum processing and refining, aluminum smelting, iron pelletization, fertilizers, Islamic and offshore banking, insurance, ship repairing, tourism |
Industrial production growth rate:
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1.5% (2010 est.) |
Electricity - production:
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11.22 billion kWh (2008 est.) |
Electricity - production per capita:
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9,237 kWh per capita |
Electricity - consumption:
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10.48 billion kWh (2008 est.) |
Electricity - consumption - per capita:
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8,628 kWh per capita |
Electricity - exports:
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0 kWh (2009 est.) |
Electricity - imports:
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0 kWh (2009 est.) |
Oil - production:
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46,430 bbl/day (2010 est.) |
Oil - production per capita:
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38,224 bbl/day per capita |
Oil - consumption:
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47,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
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14.12 bbl/year per capita |
Oil - exports:
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239,900 bbl/day (2009 est.) |
Oil - imports:
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213,000 bbl/day (2009 est.) |
Oil - proved reserves:
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124.6 million bbl (1 January 2011 est.) |
Natural gas - production:
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12.58 billion cu m (2009 est.) |
Natural gas - production per capita:
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10,357 cu m per capita |
Natural gas - consumption:
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12.58 billion cu m (2009 est.) |
Natural gas - consumption - per capita:
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10,357 cu m per capita |
Natural gas - exports:
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0 cu m (2009 est.) |
Natural gas - imports:
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0 cu m (2009 est.) |
Natural gas - proved reserves:
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92.03 billion cu m (1 January 2011 est.) |
Agriculture - products:
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fruit, vegetables; poultry, dairy products; shrimp, fish |
Current account balance:
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$617.4 million (2011 est.)
$770 million (2010 est.) |
Current account balance - per capita:
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509 USD per capita |
Exports:
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$20.23 billion (2011 est.)
$13.83 billion (2010 est.) |
Exports per capita:
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16,655 USD per capita |
Exports - commodities:
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petroleum and petroleum products, aluminum, textiles |
Exports - partners:
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Saudi Arabia 2.9%, Japan 2%, UAE 1.9%, India 1.9% (2010) |
Imports:
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$16.8 billion (2011 est.)
$11.19 billion (2010 est.) |
Imports per capita:
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13,831 USD per capita |
Imports - commodities:
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crude oil, machinery, chemicals |
Imports - partners:
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Saudi Arabia 24.7%, US 12.2%, China 7.8%, Brazil 6%, Japan 5.8%, France 5% (2010) |
Reserves of foreign exchange and gold:
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$5.069 billion (31 December 2011 est.)
$4.789 billion (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
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4,174 USD per capita |
Debt - external:
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$15.2 billion (31 December 2011 est.)
$14.58 billion (31 December 2010 est.) |
Debt - external - per capita:
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12,514 USD per capita |
Stock of direct foreign investment - at home:
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$15.29 billion (31 December 2011 est.)
$15.15 billion (31 December 2010 est.) |
Stock of direct foreign investment - at home - per capita:
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12,588 USD per capita |
Stock of direct foreign investment - abroad:
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$9.083 billion (31 December 2011 est.)
$7.883 billion (31 December 2010 est.) |
Stock of direct foreign investment - abroad - per capita:
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7,478 USD per capita |
Market value of publicly traded shares:
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$20.43 billion (31 December 2010)
$16.93 billion (31 December 2009)
$21.18 billion (31 December 2008) |
Market value of publicly traded shares - per capita:
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16,819 USD per capita |
Currency (code):
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Bahraini dinar (BHD) |
Exchange rates:
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Bahraini dinars (BHD) per US dollar -
0.376 (2011 est.)
0.376 (2010 est.)
0.376 (2009)
0.376 (2008)
0.376 (2007) |
Fiscal year:
|
calendar year |
|
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