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 revenue 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 - $8.4 billion (2001 est.)

GDP - real growth rate 4% (2001 est.)

GDP - per capita purchasing power parity - $13,000 (2001 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) 1.5% (2001 est.)

Labor force 295,000 (1998 est.)
note: 44% of the population in the 15-64 age group is non-national (July 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 5.765 billion kWh (2000)

Electricity - production by source
fossil fuel: 100%
hydro: 0%
other: 0% (2000)
nuclear: 0%

Electricity - consumption 5,361.45 million kWh (2000)

Electricity - exports 0 kWh (2000)

Electricity - imports 0 kWh (2000)

Agriculture - products fruit, vegetables; poultry, dairy products; shrimp, fish

Exports $5.5 billion (f.o.b., 2001)

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 $4.5 billion (f.o.b., 2001)

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 $2.8 billion (2000)

Economic aid - recipient $48.4 million (1995)

Currency Bahraini dinar (BHD)

Currency code BHD

Exchange rates Bahraini dinars per US dollar - 0.3760 (fixed rate pegged to the US dollar)

Fiscal year calendar year

NOTE: The information regarding Bahrain on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Bahrain Economy 2002 information contained here. All suggestions for corrections of any errors about Bahrain Economy 2002 should be addressed to the CIA.