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Agriculture > products
fruit, vegetables; poultry, dairy products; shrimp, fish |
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Aid as % of GDP
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0.6% |
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[101st of 129]
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Current account balance
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$2,907,000,000.00 |
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[41st of 181]
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Debt > External
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$7,858,000,000.00 |
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[83rd of 136]
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Economic freedom
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3 |
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[16th of 156]
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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 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. |
Exchange rates
Bahraini dinars per US dollar - 0.376 (2004), 0.376 (2003), 0.376 (2002), 0.376 (2001), 0.376 (2000) |
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Exports
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$13,790,000,000.00 |
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[72nd of 189]
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Exports to US
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$167,600,000.00 |
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[74th of 224]
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GDP
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$12,914,440,000.00 |
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[92nd of 203]
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GDP (purchasing power parity)
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$24,010,000,000.00 |
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[113rd of 187]
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GDP > PPP
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$13,599,000,000.00 |
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[114th of 163]
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GDP > Real growth rate
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6.7% |
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[54th of 198]
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GDP growth > annual %
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6.9 annual %
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[36th of 187]
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GDP per capita, PPP > current international $
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21,482.02 PPP $
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[31st of 169]
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Gross National Income
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$7,246,280,000.00 |
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[90th of 172]
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Gross national income > constant LCU
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1263500000 |
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Human Development Index
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0.846 |
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[43rd of 178]
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Inflation rate (consumer prices)
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3.3% |
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[123rd of 192]
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Public debt
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31.2 % of GDP |
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[70th of 121]
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... View all Economy stats
SOURCES: CIA World Factbook, 28 July 2005; calculated on the basis of data on ODA from OECD (Organisation for Economic Co-operation and Development), Development Assistance Committee. 2002. DAC Online. Database. Paris.; and data on GDP from World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC; All CIA World Factbooks 18 December 2003 to 18 December 2008; The Heritage Foundation; US Census Bureau; World Development Indicators database and CIA World Factbook; World Bank. 2005. World Development Indicators 2005.; World Development Indicators database; ; Human Development Report 2006, United Nations Development Programme
ALTERNATIVE NAMES:
Bahrain, Kingdom of Bahrain, Mamlakat al Bahrayn, Al Bahrayn
Related links:
More facts and figures on Bahrain
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