Page last updated on February 13, 2013
Economy - overview:
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 and continuing into 2012, 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 expatriate 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):
$32.44 billion (2012 est.)
country comparison to the world: 110
$31.81 billion (2011 est.)
$31.16 billion (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP country ranks ]
GDP (official exchange rate):
$26.51 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]
GDP - real growth rate:
2% (2012 est.)
country comparison to the world: 145
2.1% (2011 est.)
4.7% (2010 est.)
[see also:
GDP - real growth rate country ranks ]
GDP - per capita:
$28,200 (2012 est.)
country comparison to the world: 49
$28,200 (2011 est.)
$28,200 (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP - per capita country ranks ]
GDP - composition by sector:
agriculture: 0.4%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
50.7%
services:
48.9% (2012 est.)
Labor force:
705,900
country comparison to the world: 152
note:
44% of the population in the 15-64 age group is non-national (2012 est.)
[see also: Labor force country ranks ]
Labor force - by occupation:
agriculture: 1%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
79%
services:
20% (1997 est.)
Unemployment rate:
15% (2005 est.)
country comparison to the world: 145
[see also: Unemployment rate country ranks ]
Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]
Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
NA%
Investment (gross fixed):
19.9% of GDP (2012 est.)
country comparison to the world: 99
[see also: Investment (gross fixed) country ranks ]
Budget:
revenues: $8.466 billion
[see also: Budget revenues country ranks ]
expenditures:
$8.911 billion (2012 est.)
Taxes and other revenues:
31.9% of GDP (2012 est.)
country comparison to the world: 88
[see also: Taxes and other revenues country ranks ]
Budget surplus (+) or deficit (-):
-1.7% of GDP (2012 est.)
country comparison to the world: 69
[see also: Budget surplus (+) or deficit (-) country ranks ]
Public debt:
56.2% of GDP (2012 est.)
country comparison to the world: 52
54% of GDP (2011 est.)
[see also:
Public debt country ranks ]
Inflation rate (consumer prices):
3% (2012 est.)
country comparison to the world: 75
-0.4% (2011 est.)
[see also:
Inflation rate (consumer prices) country ranks ]
Commercial bank prime lending rate:
6.3% (31 December 2012 est.)
country comparison to the world: 130
6.83% (31 December 2011 est.)
[see also:
Commercial bank prime lending rate country ranks ]
Stock of narrow money:
$7.854 billion (31 December 2012 est.)
country comparison to the world: 83
$7.013 billion (31 December 2011 est.)
[see also:
Stock of narrow money country ranks ]
Stock of broad money:
$24.38 billion (31 December 2012 est.)
country comparison to the world: 82
$21.64 billion (31 December 2011 est.)
[see also:
Stock of broad money country ranks ]
Stock of domestic credit:
$24.31 billion (31 December 2012 est.)
country comparison to the world: 76
$20.78 billion (31 December 2011 est.)
[see also:
Stock of domestic credit country ranks ]
Market value of publicly traded shares:
$17.15 billion (31 December 2011)
country comparison to the world: 62
$20.43 billion (31 December 2010)
$16.93 billion (31 December 2009)
[see also:
Market value of publicly traded shares country ranks ]
Agriculture - products:
fruit, vegetables; poultry, dairy products; shrimp, fish
Industries:
petroleum processing and refining, aluminum smelting, iron pelletization, fertilizers, Islamic and offshore banking, insurance, ship repairing, tourism
Industrial production growth rate:
1.5% (2010 est.)
country comparison to the world: 130
[see also: Industrial production growth rate country ranks ]
Current account balance:
$2.846 billion (2012 est.)
country comparison to the world: 35
