Economy of Bahrain
Bahrain skyline
|
|
| Currency | Bahraini dinar (BHD) |
|---|---|
| Calendar Year | |
|
Trade organisations
|
GCC |
| Statistics | |
| GDP | $33.86 billion (2014 est.) |
|
GDP growth
|
4.5% (2014 est.) |
|
GDP per capita
|
$29,146 (PPP) (2014 est.) |
|
GDP by sector
|
Agriculture (0.3%), Industry (47.1%), Services (52.6%) (2014 est.) |
| 2.7% (2014 est.) | |
|
Population below poverty line
|
N/A |
|
Labour force
|
738,000 (2014 est.) |
|
Labour force by occupation
|
Agriculture (1%), Industry (32%), Services (67%) (2004 est.) |
| Unemployment | 4.1% (2014 est.) |
|
Main industries
|
Petroleum processing and refining, Aluminum Smelting, Iron Pelletization, Fertilizers, Islamic and Offshore Banking, Insurance, Ship Repairing, Tourism |
| 63rd (2017) | |
| External | |
| Exports | $20.75 billion (2014 est.) |
|
Export goods
|
Petroleum and Petroleum Products, Aluminum, Textiles |
|
Main export partners
|
 Saudi Arabia 3.3% United States 2.4% United Arab Emirates 2.2% (2014 est.) |
| Imports | $13.32 billion (2014 est.) |
|
Import goods
|
Crude Oil, Machinery, Chemicals |
|
Main import partners
|
Saudi Arabia 24% Algeria 11.9% China 8.2% United States 7.0% Japan 5.7% Australia 4.4% (2014 est.) |
| Public finances | |
| $18.75 billion (2014 est.) | |
| Revenues | $8.217 billion (2014 est.) |
| Expenses | $9.427 billion (2014 est.) |
| BBB (Domestic) BBB (Foreign) BBB (T&C Assessment) (Standard & Poor's) |
|
|
All values, unless otherwise stated, are in US dollars. |
|
$29,146
Bahrain has an open economy. The Bahraini currency is the second-highest-valued currency unit in the world. Since the late 20th century, Bahrain has heavily invested in the banking and tourism sectors. The country's capital, Manama is home to many large financial structures. Bahrain's finance industry is very successful. In 2008, Bahrain was named the world's fastest growing financial center by the City of London's Global Financial Centres Index. Bahrain's banking and financial services sector, particularly Islamic banking, have benefited from the regional boom driven by demand for oil. Petroleum production is Bahrain's most exported product, accounting for 60% of export receipts, 70% of government revenues, and 11% of GDP.Aluminium production is the second most exported product, followed by finance and construction materials.
According to the 2011 Index of Economic Freedom, Bahrain has the freest economy in the Middle East and North Africa region [1] and is the tenth freest economy in the world. An alternative index, published by the Fraser Institute, puts Bahrain in 44th place tied with 7 other countries. Bahrain was recognised by the World Bank as a high income economy.
This is a chart of trend of gross domestic product of Bahrain at market prices estimated by the International Monetary Fund with figures in millions of Bahraini Dinars.
For purchasing power parity comparisons, the US Dollar is exchanged at 0.30 Bahraini Dinars only. Mean wages were $19.81 per man-hour in 2009.
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