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 - $8.6 billion (1999 est.)

GDP - real growth rate: 4% (1999 est.)

GDP - per capita: purchasing power parity - $13,700 (1999 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): 0.5% (1998 est.)

Labor force: 295,000 (1998 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% (1998 est.)

Budget:
revenues: $1.5 billion
expenditures: $1.9 billion, including capital expenditures of $NA (1998)

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

Industrial production growth rate: 3.4% (1995)

Electricity - production: 4.77 billion kWh (1998)

Electricity - production by source:
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1998)

Electricity - consumption: 1.09 billion kWh (1999)

Electricity - exports: 0 kWh (1998)

Electricity - imports: 0 kWh (1998)

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

Exports: $3.3 billion (f.o.b., 1998)

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: $3.5 billion (f.o.b., 1998)

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

Imports - partners: Saudi Arabia 45%, United States 10%, United Kingdom 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