Economy - overview:
Petroleum production and refining account for about 60% of
Bahrain's export receipts, 60% of government revenues, and 30% of
GDP. 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 refining imported crude. Construction proceeds on
several major industrial projects. Unemployment, especially among
the young, and the depletion of oil and underground water resources
are major long-term economic problems. In 2005 Bahrain and the US
ratified a Free Trade Agreement (FTA), the first FTA between the US
and a Gulf state.
GDP (purchasing power parity):
$15.9 billion (2005 est.)
GDP (official exchange rate):
$11.01 billion (2005 est.)
GDP - real growth rate:
5.9% (2005 est.)
GDP - per capita (PPP):
$23,100 (2005 est.)
GDP - composition by sector:
agriculture: 0.5%
industry: 38.7%
services: 60.8% (2005 est.)
Labor force:
380,000
note: 44% of the population in the 15-64 age group is non-national
(2005 est.)
Labor force - by occupation:
agriculture: 1%
industry: 79%
services: 20% (1997 est.)
Unemployment rate:
15% (2005 est.)
Population below poverty line:
NA%