Bahrain

Kingdom of Bahrain

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• Full name: Kingdom of Bahrain
• Population: 766,000 (UN, 2008)
• Capital: Manama
• Area: 717 sq km (277 sq miles)
• Major language: Arabic
• Major religion: Islam
• Life expectancy: 74 years (men), 77 years (women) (UN)
• Monetary unit: 1 Bahraini dinar = 1,000 fils
• Main exports: Petroleum and petroleum products, aluminium
• GNI per capita: US $19,350 (World Bank, 2007)
• Internet domain: .bh
• International dialling code: +973
• Education budget:
• Healthcare budget:
• Hospitals:
• Beds:
• Medical devices/furniture imports:

Economical overview :

With its highly developed communication and transport facilities, Bahrain is home to numerous multinational firms with business in the Gulf. Petroleum production and refining account for over 60% of Bahrain’s export receipts, over 70% of government revenues, and 11% of GDP (exclusive of allied industries), underpinning Bahrain’s strong economic growth in recent years. Aluminum is Bahrain’s second major export after oil.

Other major segments of Bahrain’s economy are the financial and construction sectors. Bahrain is focused on Islamic banking and is competing on an international scale with Malaysia as a worldwide banking center. Bahrain is actively pursuing the diversification and privatization of its economy to reduce the country’s dependence on oil. As part of this effort, in August 2006 Bahrain and the US implemented a Free Trade Agreement (FTA), the first FTA between the US and a Gulf state. Continued strong growth hinges on Bahrain’s ability to acquire new natural gas supplies as feedstock to support its expanding petrochemical and aluminum industries.

Unemployment, especially among the young, and the depletion of oil and underground water resources are long-term economic problems. The global financial crisis is likely to result in slower economic growth for Bahrain during 2009 as tight international credit and a slowing global economy cause funding for many non-oil projects to dry up. Lower oil prices may also cause Bahrain’s budget to slip back into deficit.

GDP (purchasing power parity): $26.82 billion (2008 est.)
country comparison to the world: 112
GDP (official exchange rate): $21.24 billion (2008 est.)
GDP – real growth rate: 6.3% (2008 est.)
country comparison to the world: 51
GDP – per capita (PPP): $37,300 (2008 est.)
country comparison to the world: 28 $35,600 (2007 est.)

GDP – composition by sector:
agriculture: 0.4%
industry: 66.2%
services: 33.3% (2008 est.)
Labor force: 557,000

country comparison to the world: 152

note: 44% of the population in the 15-64 age group is non-national (2008 est.)
Labor force – by occupation:

agriculture: 1%
industry: 79%
services: 20% (1997 est.)
Unemployment rate:

15% (2005 est.)
country comparison to the world: 152

Investment (gross fixed):26.6% of GDP (2008 est.)
country comparison to the world: 39

Budget:

revenues: $6.934 billion
expenditures: $5.612 billion (2008 est.)
Public debt: 28.9% of GDP (2008 est.)
country comparison to the world: 75 63.8% of GDP (2004 est.)
Market value of publicly traded shares: $21.18 billion (31 December 2008)
country comparison to the world: 65 $28.13 billion (31 December 2007)
$21.12 billion (31 December 2006)

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: 6.3% (2008 est.)
country comparison to the world: 35

Electricity – production: 9.233 billion kWh (2006 est.)
country comparison to the world: 93

Electricity – consumption: 8.742 billion kWh (2006 est.)
country comparison to the world: 87

Oil – production: 48,610 bbl/day (2007 est.)
country comparison to the world: 62

Oil – consumption: 32,830 bbl/day (2006 est.)
country comparison to the world: 104

Oil – exports: 238,900 bbl/day (2005)
country comparison to the world: 48

Oil – imports: 221,500 bbl/day (2005)
country comparison to the world: 46

Oil – proved reserves: 116.2 million bbl (1 January 2008 est.)
country comparison to the world: 66

Natural gas – production: 11.33 billion cu m (2006 est.)
country comparison to the world: 40

Natural gas – consumption: 11.33 billion cu m (2006 est.)
country comparison to the world: 45

Natural gas – exports: 0 cu m (2007 est.)
country comparison to the world: 42

Natural gas – imports: 0 cu m (2007 est.)
country comparison to the world: 63

Natural gas – proved reserves: 92.03 billion cu m (1 January 2008 est.)
country comparison to the world: 55

Current account balance: $2.255 billion (2008 est.)
country comparison to the world: 41 $2.907 billion (2007 est.)
Exports: $17.49 billion (2008 est.)
country comparison to the world: 75 $13.79 billion (2007 est.)
Exports – commodities: petroleum and petroleum products, aluminum, textiles
Exports – partners: Saudi Arabia 3.5%, UAE 2.3%, US 1.9% (2008)
Imports: $14.25 billion (2008 est.)
country comparison to the world: 86
$10.93 billion (2007 est.)
Imports – commodities: crude oil, machinery, chemicals
Imports – partners: Saudi Arabia 27.5%, Japan 9.1%, US 8.1%, China 5.9%, Germany 5%, UK 4.6% (2008)
Reserves of foreign exchange and gold: $3.803 billion (31 December 2008 est.)
country comparison to the world: 88

Debt – external: $10.03 billion (31 December 2008 est.)
country comparison to the world: 85

Stock of direct foreign investment – at home:$15.01 billion (31 December 2008 est.)
country comparison to the world: 71

Stock of direct foreign investment – abroad: $9.52 billion (31 December 2008 est.)
country comparison to the world: 47

Exchange rates:

Bahraini dinars (BHD) per US dollar – 0.376 (2008 est.),