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.
Agriculture Products
fruit, vegetables; poultry, dairy products; shrimp, fish
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
8.187 billion kWh (2005)
Electricity Consumption
7.614 billion kWh (2005)
Electricity Exports
0 kWh (2005)
Electricity Imports
0 kWh (2005)
Unemployment Rate
15% (2005 est.)
Population Below Poverty Line
NA%
Household Income or Consumption by Percentage Share
Lowest 10%: NA%
Highest 10%: NA%
Budget
Revenues: $4.894 billion
Expenditures: $4.516 billion (2006 est.)
Public Debt
31% of GDP (2006 est.)
Commercial Bank Prime Lending Rate
Market Value of Publicly Traded Shares
$21.12 billion (2006)
Reserves of Foreign Exchange and Gold
$2.818 billion (2006 est.)
Debt External
$7.159 billion (2006 est.)
Stock of Direct Foreign Investment at Home
$11.55 billion (2006 est.)
Stock of Direct Foreign Investment Abroad
$6.039 billion (2006 est.)
Exchange Rates
Bahraini dinars per US dollar - 0.376 (2006), 0.376 (2005), 0.376 (2004), 0.376 (2003), 0.376 (2002)
