Economy - overview:
In 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 consists 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 - $9.8 billion (2002 est.)
GDP - real growth rate:
3.8% (2002 est.)
GDP - per capita:
purchasing power parity - $14,000 (2002 est.)
GDP - composition by sector:
agriculture: 1%
industry: 35%
services: 64% (2001 est.)
Population below poverty line:
NA%
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices):
0.5% (2002 est.)
Labor force:
295,000
note: 44% of the population in the 15-64 age group is non-national (1998 est.)
Labor force - by occupation:
industry, commerce, and service 79%, government 20%, agriculture 1% (1997 est.)
Unemployment rate:
15% (1998 est.)
Budget:
revenues: $1.8 billion
expenditures: $2.2 billion, including capital expenditures of $700 million (2002 est.)
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 - production by source:
fossil fuel: 100%
hydro: 0%
other: 0% (2001)
nuclear: 0%
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:
62.28 million bbl (January 2002 est.)
Natural gas - proved reserves:
46 billion cu m (January 2002 est.)
Agriculture - products:
fruit, vegetables; poultry, dairy products; shrimp, fish
Exports:
$5.8 billion (2002)
Exports - commodities:
petroleum and petroleum products, aluminum, textiles
Exports - partners:
India 8.4%, US 3.9%, Saudi Arabia 3.4%, Japan 2.8%, South Korea 2.1% (2000)
Imports:
$4.2 billion (2002)
Imports - commodities:
crude oil, machinery, chemicals
Imports - partners:
Saudi Arabia 28.7%, US 12.5%, UK 6.6%, France 6%, Japan 4% (2000)
Debt - external:
$3.7 billion (2002)
Economic aid - recipient:
$150 million; note - $50 million annually since 1992 from each of Saudi Arabia, UAE, and Kuwait (2002)
Currency:
Bahraini dinar (BHD)
Currency code:
BHD
Exchange rates:
Bahraini dinars per US dollar - 0.376 (2002), 0.376 (2001), 0.376 (2000), 0.376 (1999), 0.376 (1998)
Fiscal year:
calendar year
NOTE: The information regarding Bahrain on this page is re-published from the 2003 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guinea Geography 2003 information contained here. All suggestions for corrections of any errors about Bahrain Economy 2003 should be addressed to the CIA.
