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Bahrain Economy 2014

SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES











Bahrain Economy 2014
SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on December 17, 2013

Economy - overview:
Bahrain has taken great strides in diversifying its economy and its 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. 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 2012, Bahrain experienced economic setbacks as a result of domestic unrest, however, several factors indicate that the economy is beginning to recover, such as the return of the formula one race and tourist cruise ships to Bahrain. Economic policies aimed at restoring confidence in Bahrain's economy, such as the suspension of an expatriate labor tax and frequent bailouts of Gulf Air, 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):
$33.03 billion (2012 est.)
country comparison to the world: 110

$31.52 billion (2011 est.)
$30.87 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$26.75 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4.8% (2012 est.)
country comparison to the world: 71

2.1% (2011 est.)
4.7% (2010 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$28,700 (2012 est.)
country comparison to the world: 52

$27,900 (2011 est.)
$27,900 (2010 est.)
note: data are in 2012 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
27.6% of GDP (2012 est.)
country comparison to the world: 33

27.5% of GDP (2011 est.)
30.3% of GDP (2010 est.)
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 38.3%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 14.6%
investment in fixed capital: 19.5%
investment in inventories: 0.8%
exports of goods and services: 75.3%
imports of goods and services: -48.5%

(2012 est.)

GDP - composition, by sector of origin:
agriculture: 0.3%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 48.1%
services: 51.6% (2012 est.)

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:
-1.7% (2012 est.)
country comparison to the world: 154
[see also: Industrial production growth rate country ranks ]

Labor force:
655,300
country comparison to the world: 153
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: 143
[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%

Budget:
revenues: $8.07 billion
[see also: Budget revenues country ranks ]
expenditures: $8.673 billion (2012 est.)

Taxes and other revenues:
30.2% of GDP (2012 est.)
country comparison to the world: 94
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2.3% of GDP (2012 est.)
country comparison to the world: 92
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
54.2% of GDP (2012 est.)
country comparison to the world: 51

48% of GDP (2011 est.)
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
2.8% (2012 est.)
country comparison to the world: 86

-0.4% (2011 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
6.05% (31 December 2012 est.)
country comparison to the world: 129

6.83% (31 December 2011 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$6.944 billion (31 December 2012 est.)
country comparison to the world: 89

$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: 81

$21.64 billion (31 December 2011 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$22.19 billion (31 December 2012 est.)
country comparison to the world: 75

$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: 63

$20.43 billion (31 December 2010)
$16.93 billion (31 December 2009)
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$2.221 billion (2012 est.)
country comparison to the world: 37

$3.248 billion (2011 est.)
[see also: Current account balance country ranks ]

Exports:
$20.39 billion (2012 est.)
country comparison to the world: 73

$19.65 billion (2011 est.)
[see also: Exports country ranks ]

Exports - commodities:
petroleum and petroleum products, aluminum, textiles

Exports - partners:
Saudi Arabia 3.3%, India 2.2%, UAE 2.2%, South Korea 2% (2012)

Imports:
$13.24 billion (2012 est.)
country comparison to the world: 89

$12.11 billion (2011 est.)
[see also: Imports country ranks ]

Imports - commodities:
crude oil, machinery, chemicals

Imports - partners:
Saudi Arabia 27.4%, US 9.6%, China 9.5%, Japan 6.4%, India 4.9%, France 4.7% (2012)

Reserves of foreign exchange and gold:
$5.211 billion (31 December 2012 est.)
country comparison to the world: 91

$4.551 billion (31 December 2011 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$27.54 billion (31 December 2012 est.)
country comparison to the world: 73

$27.04 billion (31 December 2011 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$16.83 billion (31 December 2012 est.)
country comparison to the world: 78

$15.93 billion (31 December 2011 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$9.699 billion (31 December 2012 est.)
country comparison to the world: 54

$8.777 billion (31 December 2011 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Bahraini dinars (BHD) per US dollar -

0.38 (2012 est.)
0.38 (2011 est.)
0.38 (2010 est.)
0.38 (2009)
0.38 (2008)


NOTE: 1) The information regarding Bahrain on this page is re-published from the 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Bahrain Economy 2014 information contained here. All suggestions for corrections of any errors about Bahrain Economy 2014 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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