Bahrain Economy
Economy - overviewIn well-to-do Bahrain, petroleum production and refining account for about 60% of export receipts, 60% of government revenues, and 30% of GDP. With its highly developed communication and transport facilities, Bahrain is home to numerous multinational firms with business in the Gulf. Bahrain is dependent on Saudi Arabia for oil granted as aid. A large share of exports consist of petroleum products made from refining imported crude. Construction proceeds on several major industrial projects. Unemployment, especially among the young, and the depletion of oil and underground water resources are major long-term economic problems.
GDP
purchasing power parity - $11.29 billion (2003 est.)
GDP - real growth rate
4.9% (2003 est.)
GDP - per capita
purchasing power parity - $16,900 (2003 est.)
GDP - composition by sector
agriculture: 0.7%
industry: 42.1%
services: 57.2% (2003 est.)
Investment
11.9% of GDP (2003)
Population below poverty line
NA
Household income or consumption by percentage share
lowest 10%: NA
highest 10%: NA
Inflation rate
-0.2% (2003 est.)
Labor force
350,000
note: 44% of the population in the 15-64 age group is non-national (2003 est.)
Labor force - by occupation
agriculture 1%, industry, commerce, and services 79%, government 20% (1997 est.)
Unemployment rate
15% (1998 est.)
Budget
revenues: $2.981 billion
expenditures: $3.019 billion, including capital expenditures of $700 million (2003 est.)
Public debt
57.5% of GDP (2003)
Agriculture - products
fruit, vegetables; poultry, dairy products; shrimp, fish
Industries
petroleum processing and refining, aluminum smelting, offshore banking, ship repairing; tourism
Industrial production growth rate
2% (2000 est.)
Electricity - production
6.257 billion kWh (2001)
Electricity - consumption
5.819 billion kWh (2001)
Electricity - exports
0 kWh (2001)
Electricity - imports
0 kWh (2001)
Oil - production
43,000 bbl/day (2001 est.)
Oil - consumption
31,000 bbl/day (2001 est.)
Oil - exports
NA (2001)
Oil - imports
NA (2001)
Oil - proved reserves
125 million bbl (1 January 2003)
Natural gas - production
8.9 billion cu m (2001 est.)
Natural gas - consumption
8.9 billion cu m (2001 est.)
Natural gas - exports
0 cu m (2001 est.)
Natural gas - imports
0 cu m (2001 est.)
Natural gas - proved reserves
46 billion cu m (1 January 2003)
Current account balance
$53 million (2003)
Exports
$6.492 billion (2003 est.)
Exports - commodities
petroleum and petroleum products, aluminum, textiles
Exports - partners
US 3.5%, India 3.3%, South Korea 2.2% (2003)
Imports
$5.126 billion (2003 est.)
Imports - commodities
crude oil, machinery, chemicals
Imports - partners
Saudi Arabia 30.7%, US 11.4%, Japan 7.8%, UK 5.7%, Germany 5.4% (2003)
Reserves of foreign exchange & gold
$1.785 billion (2003)
Debt - external
$4.682 billion (2003)
Currency
Bahraini dinar (BHD)
Currency code
BHD
Exchange rates
Bahraini dinars per US dollar - 0.376 (2003), 0.376 (2002), 0.376 (2001), 0.376 (2000), 0.376 (1999)
