Bahrain Economy 2018, CIA World Factbook
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Bahrain Economy 2018

SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES











Bahrain Economy 2018
SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 28, 2018

Economy - overview:
Low oil prices have generated a budget deficit of at least a $4 billion deficit in 2016, nearly 14% of GDP. Bahrain has few options for covering this deficit, with meager foreign assets and fewer oil resources compared to its GCC neighbors. In 2016 the three major US credit agencies downgraded Bahrain’s sovereign debt rating to “junk” status, citing persistently low oil prices and the government’s inability to more effectively cut spending. Nevertheless, Bahrain in 2017 was able to raise about $3 billion by issuing international debt.Oil comprises 86% of Bahraini budget revenues, despite past efforts to diversify its economy and to build communication and transport facilities for 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.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 driven by the majority Shia population; however, the economy recovered in 2012-15, partly as a result of improved tourism. In addition to addressing its current fiscal woes, Bahraini authorities face the long-term challenge of boosting Bahrain’s regional competitiveness — especially regarding industry, finance, and tourism — and reconciling revenue constraints with popular pressure to maintain generous state subsidies and a large public sector. Since 2015, the government lifted subsidies on meat, diesel, kerosene, and gasoline and announced new higher prices for electricity and water, although it plans to roll these increases out more gradually than previous subsidy cuts.

GDP (purchasing power parity):
$69.77 billion (2017 est.) $68.08 billion (2016 est.) $66.12 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 99

GDP (official exchange rate):
$33.87 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2.5% (2017 est.) 3% (2016 est.) 2.9% (2015 est.)
country comparison to the world: 131
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$51,800 (2017 est.) $51,600 (2016 est.) $51,100 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 25

Gross national saving:
19% of GDP (2017 est.) 21% of GDP (2016 est.) 22% of GDP (2015 est.)
country comparison to the world: 97
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 45.8%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 15.5%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 26.1%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.4%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 80.2%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -67.9% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 0.3%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 38.2%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 61.5% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

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:
0% (2017 est.)
country comparison to the world: 187
[see also: Industrial production growth rate country ranks ]

Labor force:
831,600
note: excludes unemployed; 44% of the population in the 15-64 age group is non-national (2017 est.)
country comparison to the world: 150
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 1%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 32%
[see also: Labor force - by occupation - industry country ranks ]
services: 67% (2004 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
3.8% (2017 est.) 3.7% (2016 est.)
note: official estimate; actual rate is higher
country comparison to the world: 42
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%

Budget:
revenues: $5.463 billion
[see also: Budget - revenues country ranks ]
expenditures: $9.281 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
16.1% of GDP (2017 est.)
country comparison to the world: 183
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-11.3% of GDP (2017 est.)
country comparison to the world: 211
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
82.7% of GDP (2017 est.) 72% of GDP (2016 est.)
country comparison to the world: 34
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
0.9% (2017 est.) 2.8% (2016 est.)
country comparison to the world: 33
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
5.7% (31 December 2017 est.) 5.2% (31 December 2016 est.)
country comparison to the world: 131
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$9.239 billion (31 December 2017 est.) $9.157 billion (31 December 2016 est.)
country comparison to the world: 86
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$27.72 billion (31 December 2017 est.) $27.36 billion (31 December 2016 est.)
country comparison to the world: 83
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$29.72 billion (31 December 2017 est.) $29.08 billion (31 December 2016 est.)
country comparison to the world: 81
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$19.25 billion (31 December 2015 est.) $22.07 billion (31 December 2014 est.) $18.57 billion (31 December 2013 est.)
country comparison to the world: 67
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$1.556 billion (2017 est.) -$1.493 billion (2016 est.)
country comparison to the world: 148
[see also: Current account balance country ranks ]

Exports:
$14.33 billion (2017 est.) $12.78 billion (2016 est.)
country comparison to the world: 77
[see also: Exports country ranks ]

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

Exports - partners:
Saudi Arabia 18.3%, UAE 17.5%, US 11.1%, Japan 8.7%, Qatar 4.8%, China 4.2% (2016)

Imports:
$13.96 billion (2017 est.) $13.59 billion (2016 est.)
country comparison to the world: 89
[see also: Imports country ranks ]

Imports - commodities:
crude oil, machinery, chemicals

Imports - partners:
China 9.7%, US 8.6%, UAE 7.4%, Japan 6.1%, Saudi Arabia 5.5% (2016)

Reserves of foreign exchange and gold:
$2.166 billion (31 December 2017 est.) $3.094 billion (31 December 2016 est.)
country comparison to the world: 118
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$42.39 billion (31 December 2017 est.) $42.55 billion (31 December 2016 est.)
country comparison to the world: 70
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$22.11 billion (31 December 2017 est.) $21.56 billion (31 December 2016 est.)
country comparison to the world: 76
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$10.66 billion (31 December 2017 est.) $10.5 billion (31 December 2016 est.)
country comparison to the world: 61
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Bahraini dinars (BHD) per US dollar - 0.376 (2017 est.) 0.376 (2016 est.) 0.376 (2015 est.) 0.376 (2014 est.) 0.376 (2013 est.)


NOTE: 1) The information regarding Bahrain on this page is re-published from the 2018 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Bahrain Economy 2018 information contained here. All suggestions for corrections of any errors about Bahrain Economy 2018 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) The assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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