Bahrain - Economy
How is the economy of Bahrain? Based on the information we have, Bahrain has a growing, economically diverse Middle Eastern island economy; major recovery and balancing efforts to fulfill Economic Vision 2030; regional finance hub; increasing openness; high youth unemployment; water scarcity amid reservoir depletion. Key agricultural products in this country include: lamb/mutton, dates, milk, chicken, tomatoes, fruits, sheep offal, eggs, sheepskins, cucumbers/gherkins (2022).
More about the economy of Bahrain
| Labor force | 855,000 (2023 est.) |
|---|---|
| Industrial production growth rate | -1.1% (2023 est.) |
| Industries | petroleum processing and refining, aluminum smelting, iron pelletization, fertilizers, Islamic and offshore banking, insurance, ship repairing, tourism |
| Population below poverty line | |
| Taxes and other revenues | 2.92% (of GDP) (2020 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Bahraini dinars (BHD) per US dollar - |
| Exchange rates 2023 | 0.376 (2023 est.) |
| Exchange rates 2022 | 0.376 (2022 est.) |
| Exchange rates 2021 | 0.376 (2021 est.) |
| Exchange rates 2020 | 0.376 (2020 est.) |
| Exchange rates 2019 | 0.376 (2019 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $5.118 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $4.775 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $4.993 billion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | $2.699 billion (2023 est.) |
| Current account balance 2022 | $6.839 billion (2022 est.) |
| Current account balance 2021 | $2.602 billion (2021 est.) |
| Public debt | |
| Public debt 2020 | 115.52% of GDP (2020 est.) |
| Budget | |
| Revenues | $5.538 billion (2020 est.) |
| Expenditures | $9.357 billion (2020 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 0% of GDP (2023 est.) |
| Remittances 2022 | 0% of GDP (2022 est.) |
| Remittances 2021 | 0% of GDP (2021 est.) |
| Average household expenditures | |
| On food | 13% of household expenditures (2022 est.) |
| On alcohol and tobacco | 0.4% of household expenditures (2022 est.) |
| Imports | |
| Imports 2023 | $32.374 billion (2023 est.) |
| Imports 2022 | $33.066 billion (2022 est.) |
| Imports 2021 | $27.996 billion (2021 est.) |
| Imports (partners) | China 15%, UAE 12%, Brazil 9%, Australia 8%, India 7% (2022) |
| Comodities Imports force | iron ore, aluminum oxide, cars, gold, ships (2022) |
| Exports | |
| Imports 2023 | $32.374 billion (2023 est.) |
| Imports 2022 | $33.066 billion (2022 est.) |
| Imports 2021 | $27.996 billion (2021 est.) |
| Exports (partners) | Saudi Arabia 15%, UAE 10%, US 9%, Japan 5%, India 4% (2022) |
| Comodities Exports force | aluminum, refined petroleum, iron ore, aluminum wire, iron blocks (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $85.491 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $83.421 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $79.531 billion (2021 est.) |
| GDP (official exchange rate) | $43.205 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $57,600 (2023 est.) |
| Real GDP per capita 2022 | $56,700 (2022 est.) |
| Real GDP per capita 2021 | $54,400 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 0.3% (2023 est.) |
| Industry | 44.5% (2023 est.) |
| Services | 51.1% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 39.2% (2021 est.) |
| Government consumption | 15.8% (2021 est.) |
| Investment in fixed capital | 24.6% (2021 est.) |
| Investment in inventories | 1% (2021 est.) |
| Exports of goods and services | 89.7% (2021 est.) |
| Imports of goods and services | -70.2% (2021 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 1.16% (2023 est.) |
| Unemployment rate 2022 | 1.33% (2022 est.) |
| Unemployment rate 2021 | 1.55% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 5.8% (2023 est.) |
| Male | 2.9% (2023 est.) |
| Female | 12.5% (2023 est.) |
All Important Facts about Bahrain
Want to know more about Bahrain? Check all different factbooks for Bahrain below.
