Economy - overview In Bahrain, petroleum production and processing account for about 60% of export receipts, 60% of government revenues, and 30% of GDP. Economic conditions have fluctuated with the changing fortunes of oil since 1985, for example, during and following the Gulf crisis of 1990-91. With its highly developed communication and transport facilities, Bahrain is home to numerous multinational firms with business in the Gulf. A large share of exports consists of petroleum products made from imported crude. Construction proceeds on several major industrial projects. Unemployment, especially among the young, and the depletion of both oil and underground water resources are major long-term economic problems.

GDP purchasing power parity - $8.2 billion (1997 est.)

GDP - real growth rate 2.7% (1997 est.)

GDP - per capita purchasing power parity - $13,700 (1997 est.)

GDP - composition by sector
agriculture: 1%
industry: 38%
services: 61% (1995)

Inflation rate - consumer price index -0.2% (1996 est.)

Labor force
total: 140,000
by occupation: industry, commerce, and service 78%, government 21%, agriculture 1% (1994)
note: 44% of the population in the 15-64 age group is non-national (July 1998 est.)

Unemployment rate 15% (1996 est.)

Budget
revenues: $1.7 billion
expenditures: $1.9 billion, including capital expenditures of $400 million (1998 est.)

Industries petroleum processing and refining, aluminum smelting, offshore banking, ship repairing; tourism

Industrial production growth rate 3.4% (1995)

Electricity - capacity 1.05 million kW (1995)

Electricity - production 4.4 billion kWh (1995)

Electricity - consumption per capita 7,640 kWh (1995)

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

Exports
total value: $4.6 billion (f.o.b., 1996)
commodities: petroleum and petroleum products 61%, aluminum 7%
partners: India 22%, Japan 12%, Saudi Arabia 6%, US 6%, UAE 5% (1995)

Imports
total value: $3.7 billion (f.o.b., 1996)
commodities: nonoil 63%, crude oil 37%
partners: Saudi Arabia 40%, US 13%, UK 7%, Japan 5%, Switzerland 5% (1995)

Debt - external $3.2 billion (1995)

Economic aid $NA

Currency 1 Bahraini dinar (BD) = 1,000 fils

Exchange rates Bahraini dinars (BD) per US$1 - 0.3760 (fixed rate)

Fiscal year calendar year

NOTE: The information regarding Bahrain on this page is re-published from the 1998 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Bahrain Economy 1998 information contained here. All suggestions for corrections of any errors about Bahrain Economy 1998 should be addressed to the CIA.