Good Morning!
Friday, November 15, 2024
Bahrain Economy
Economy
| BAHRAIN ECONOMY | |
 | |
| Overview: | In well-to-do 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 consist 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 -$33.63 billion(2012 est.) |
| GDP real growth rate: | 3.91% (2012 est.) |
| GDP - per capita: | purchasing power parity - $29,200(2012 est.) |
| GDP - composition by sector: | agriculture: 1% industry: 79% services: 20& (2012 est.) |
| Investment (gross fixed): | 11.9% of GDP (2012) |
| Household income or consumption by percentage share: | lowest 10%: NA highest 10%: NA |
| Inflation rate (consumer prices): | 2,8% (2013 est.) |
| Labor force: | 705,900 44% of the population in the 15-64 age group is non-national (2012 est.) |
| Labor force - by occupation: | agriculture 1%, industry, commerce, and services 79%, government 20% (1997 est.) |
| Unemployment rate: | 3,8% (1997 est.) |
| Budget: | revenues: $8.378 billion expenditures: $8.756 billion, including capital expenditures of $700 million (2003 est.) |
| Public debt: | 27,12 bilion (2013 est.) |
| Agriculture - products: | fruit, vegetables; poultry, dairy products; shrimp, fish |
| Industries: | petroleum processing and refining, aluminum smelting, offshore banking, ship repairing; tourism, insuarance |
| Industrial production growth rate: | 2% (2012 est.) |
| Electricity - production: | 6.257 billion kWh (2012) |
Electricity - consumption: | 5.819 billion kWh (2012) |
| Electricity - exports: | 0 kWh (2012) |
| Electricity - imports: | 0 kWh (2012) |
| Oil - production: | 43,000 bbl/day (2012 est.) |
| Oil - consumption: | 31,000 bbl/day (2012 est.) |
| Oil - exports: | NA (2012) |
| Oil - imports: | NA (2012) |
| Oil - proved reserves: | 125 million bbl (1 January 2012) |
| Natural gas - production: | 8.9 billion cu m (2012 est.) |
| Natural gas - consumption: | 8.9 billion cu m (2012 est.) |
| Natural gas - exports: | 0 cu m (2012est.) |
| Natural gas - imports: | 0 cu m (2012 est.) |
| Natural gas - proved reserves: | 46 billion cu m (1 January 2012) |
| Current account balance: | $53 million (2012) |
| Exports: | $21.4 billion (2012 est.) |
| Exports - commodities: | petroleum and petroleum products, aluminum, textiles |
| Exports - partners: | Saudi Arabia 3.0%, UAE 2.0%, India 2.2%, South Korea 1.9% (2012) |
| Imports: | $15.7 billion (2012 est.) |
| Imports - commodities: | crude oil, machinery, chemicals |
| Imports - partners: | Saudi Arabia 26.5%, US 9,7%, Japan 6,4%, CHina 9.6%, India 4.9% (2012) |
| Reserves of foreign exchange & gold: | $1.785 billion (2012) |
| Debt - external: | $4.682 billion (2012) |
| Economic aid - recipient: | $150 million; note - $50 million annually since 1992 from each of Saudi Arabia, UAE, and Kuwait (2012) |
| Currency: | Bahraini dinar (BHD) |
| Currency code: | BHD |
