About Bahrain and Key Financial Statistics









About Bahrain and Key Financial Statistics



Overview of Economy:

Bahrain has made great efforts to diversify its economy; its highly developed communication and transport facilities make Bahrain home to numerous multinational firms with business in the Gulf. As part of its diversification plans, Bahrain implemented a Free Trade Agreement (FTA) with the US in August 2006, the first FTA between the US and a Gulf state. Bahrain's economy, however, continues to depend heavily on oil. In 2013, petroleum production and refining accounted for 73% of Bahrain's export receipts, 88% of government revenues, and 21% of GDP. Other major economic activities are production of aluminum - Bahrain's second biggest export after oil - finance, and construction. Bahrain continues to seek new natural gas supplies as feedstock to support its expanding petrochemical and aluminum industries. In 2011 Bahrain experienced economic setbacks as a result of domestic unrest, however, the economy recovered in 2012-14, partly as a result of improved tourism. Lower oil prices in 2015 will likely exacerbate Bahrain's budget deficit.



Gross Domestic Product (In USD):

$62.17 billion (2014 est.)
$59.49 billion (2013 est.)
$56.47 billion (2012 est.)



Composition of Gross Domestic Product:


% Agricuture: 0.3

% Industry: 47.1

% Services: 52.6


Composition of Labor Force by Occupation:

% Agriculture: 1

% Industry: 32

% Services: 67


Per Capita Income:

$49,000 (2014 est.)
$46,900 (2013 est.)
$44,500 (2012 est.)


Exports:

$20.75 billion (2014 est.)
$20.93 billion (2013 est.)




Key Export Commodities:


petroleum and petroleum products, aluminum, textiles



Export Partners:

Saudi Arabia 3.3%, US 2.4%, UAE 2.2% (2014)



Imports:

$13.32 billion (2014 est.)
$13.66 billion (2013 est.)



Key Import Commodities:

crude oil, machinery, chemicals



Import Partners:

Saudi Arabia 24%, Algeria 11.9%, China 8.2%, US 7%, Japan 5.7%, Australia 4.4% (2014)




Inflation Rate (Consumer Price Index):


2.7% (2014 est.)
3.3% (2013 est.)




Exchange Rate to USD:

Bahraini dinars (BHD) per US dollar -
0.376 (2014 est.)
0.376 (2013 est.)
0.376 (2012 est.)
0.376 (2011 est.)
0.376 (2010 est.)




Unemployment Rate:

4.1% (2014 est.)
4.3% (2013 est.)



S&P Rating:



Standard & Poor's Ratings:

  • AAA: The best quality borrowers, reliable and stable
  • AA: Quality borrowers, a bit higher risk than AAA
  • A: Economic situation can affect finance
  • BBB: Medium class borrowers, which are satisfactory at the moment
  • BB: More prone to changes in the economy
  • B: Financial situation varies noticeably
  • CCC: An obligor rated currently vulnerable, and is dependent upon favorable business, financial, and economic conditions to meet its financial commitments.






Ref 2012-2014: CIA World Factbook, Wikipedia, PWC, EY, Standard & Poors ratings