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): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): Gross national saving: GDP - composition, by end use: GDP - composition, by sector of origin: Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Fiscal year: Inflation rate (consumer prices): Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
$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
$33.87 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]
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 ]
$51,800 (2017 est.)
$51,600 (2016 est.)
$51,100 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 25
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 ]
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 ]
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 ]
fruit, vegetables; poultry, dairy products; shrimp, fish
petroleum processing and refining, aluminum smelting, iron pelletization, fertilizers, Islamic and offshore banking, insurance, ship repairing, tourism
0% (2017 est.)
country comparison to the world: 187
[see also: Industrial production growth rate country ranks ]
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 ]
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 ]
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 ]
NA%
[see also: Population below poverty line country ranks ]
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%
revenues: $5.463 billion
[see also: Budget - revenues country ranks ]
expenditures: $9.281 billion (2017 est.)
[see also: Budget - expenditures country ranks ]
16.1% of GDP (2017 est.)
country comparison to the world: 183
[see also: Taxes and other revenues country ranks ]
-11.3% of GDP (2017 est.)
country comparison to the world: 211
[see also: Budget surplus (+) or deficit (-) country ranks ]
82.7% of GDP (2017 est.)
72% of GDP (2016 est.)
country comparison to the world: 34
[see also: Public debt country ranks ]
calendar year
0.9% (2017 est.)
2.8% (2016 est.)
country comparison to the world: 33
[see also: Inflation rate (consumer prices) country ranks ]
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 ]
$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 ]
$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 ]
$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 ]
$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 ]
-$1.556 billion (2017 est.)
-$1.493 billion (2016 est.)
country comparison to the world: 148
[see also: Current account balance country ranks ]
$14.33 billion (2017 est.)
$12.78 billion (2016 est.)
country comparison to the world: 77
[see also: Exports country ranks ]
petroleum and petroleum products, aluminum, textiles
Saudi Arabia 18.3%, UAE 17.5%, US 11.1%, Japan 8.7%, Qatar 4.8%, China 4.2% (2016)
$13.96 billion (2017 est.)
$13.59 billion (2016 est.)
country comparison to the world: 89
[see also: Imports country ranks ]
crude oil, machinery, chemicals
China 9.7%, US 8.6%, UAE 7.4%, Japan 6.1%, Saudi Arabia 5.5% (2016)
$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 ]
$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 ]
$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 ]
$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 ]
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.)