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Bahrain Economy

    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 (1998 est.)

    GDP—real growth rate: -2% (1998 est.)

    GDP—per capita: purchasing power parity—$13,100 (1998 est.)

    GDP—composition by sector:
    agriculture: 1%
    industry: 46%
    services: 53% (1996 est.)

    Population below poverty line: NA%

    Household income or consumption by percentage share:
    lowest 10%: NA%
    highest 10%: NA%

    Inflation rate (consumer prices): -0.2% (1996 est.)

    Labor force: 150,000 (1997 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% (1996 est.)

    Budget:
    revenues: $1.5 billion
    expenditures: $1.9 billion, including capital expenditures of $NA (1999 budget)

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

    Industrial production growth rate: 3.4% (1995)

    Electricity—production: 4.7 billion kWh (1996)

    Electricity—production by source:
    fossil fuel: 100%
    hydro: 0%
    nuclear: 0%
    other: 0% (1996)

    Electricity—consumption: 4.7 billion kWh (1996)

    Electricity—exports: 0 kWh (1996)

    Electricity—imports: 0 kWh (1996)

    Agriculture—products: fruit, vegetables; poultry, dairy products; shrimp, fish

    Exports: $4.7 billion (f.o.b., 1997)

    Exports—commodities: petroleum and petroleum products 61%, aluminum 7%

    Exports—partners: India 18%, Japan 11%, Saudi Arabia 8%, South Korea 7%, UAE 5% (1997)

    Imports: $4.4 billion (f.o.b., 1997)

    Imports—commodities: nonoil 59%, crude oil 41%

    Imports—partners: Saudi Arabia 45%, US 10%, UK 6%, Japan 5%, Germany 4% (1997)

    Debt—external: $2 billion (1997)

    Economic aid—recipient: $48.4 million (1995)

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

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

    Fiscal year: calendar year

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Revised 1-Mar-99
Copyright © 1999 Photius Coutsoukis (all rights reserved)