Economy - 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 about 60% of Bahrain's export receipts, 70% of government revenues, and 20% of GDP, underpinning Bahrain's strong economic growth in recent years. The financial and construction sectors have also bolstered GDP growth. Bahrain is actively pursuing the diversification and privatization of its economy to reduce the country's dependence on oil. As part of this effort, Bahrain and the US in August 2006 implemented a Free Trade Agreement (FTA), the first FTA between the US and a Gulf state. Unemployment, especially among the young, and the depletion of oil and underground water resources are major long-term economic problems.

GDP (purchasing power parity):
$17.7 billion (2006 est.)

GDP (official exchange rate):
$12.12 billion (2006 est.)

GDP - real growth rate:
7.6% (2006 est.)

GDP - per capita (PPP):
$25,300 (2006 est.)

GDP - composition by sector:
agriculture: 0.5%
industry: 38.7%
services: 60.8% (2005 est.)

Labor force:
352,000
note: 44% of the population in the 15-64 age group is non-national (2006 est.)

Labor force - by occupation:
agriculture: 1%
industry: 79%
services: 20% (1997 est.)

Unemployment rate:
15% (2005 est.)

Population below poverty line:
NA%

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

Inflation rate (consumer prices):
3.5% (2006 est.)

Investment (gross fixed):
21.1% of GDP (2006 est.)

Budget:
revenues: $5.582 billion
expenditures: $4.197 billion; including capital expenditures of $700 million (2006 est.)

Public debt:
34.2% of GDP (2006 est.)

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

Industries:
petroleum processing and refining, aluminum smelting, iron pelletization, fertilizers, offshore banking, ship repairing, tourism

Industrial production growth rate:
2% (2000 est.)

Electricity - production:
7.794 billion kWh (2004)

Electricity - consumption:
7.248 billion kWh (2004)

Electricity - exports:
0 kWh (2004)

Electricity - imports:
0 kWh (2004)

Oil - production:
188,300 bbl/day (2005 est.)

Oil - consumption:
27,000 bbl/day (2004 est.)

Oil - exports:
NA bbl/day (2001)

Oil - imports:
NA bbl/day (2001)

Oil - proved reserves:
121 million bbl (2006 est.)

Natural gas - production:
9.75 billion cu m (2004 est.)

Natural gas - consumption:
9.75 billion cu m (2004 est.)

Natural gas - exports:
0 cu m (2004 est.)

Natural gas - imports:
0 cu m (2004 est.)

Natural gas - proved reserves:
92.03 billion cu m (1 January 2005 est.)

Current account balance:
$1.999 billion (2006 est.)

Exports:
$12.62 billion (2006 est.)

Exports - commodities:
petroleum and petroleum products, aluminum, textiles

Exports - partners:
Saudi Arabia 3.3%, US 2.6%, UAE 2.3% (2005)

Imports:
$9.036 billion (2006 est.)

Imports - commodities:
crude oil, machinery, chemicals

Imports - partners:
Saudi Arabia 36.5%, Japan 6.6%, Germany 6.4%, US 5.4%, UK 5%, UAE 4.1% (2005)

Reserves of foreign exchange and gold:
$2.918 billion (2006 est.)

Debt - external:
$7.267 billion (2006 est.)

Economic aid - recipient:
$150 million; note - $50 million annually since 1992 from the UAE and Kuwait (2002)

Currency (code):
Bahraini dinar (BHD)

Exchange rates:
Bahraini dinars per US dollar - 0.376 (2006), 0.376 (2005), 0.376 (2004), 0.376 (2003), 0.376 (2002)