Bahrain - Economy
How is the economy of Bahrain? Based on the information we have, Bahrain has a
high-income, growing Middle Eastern island economy; oil and aluminum exporter with diversification led by services, construction and manufacturing; regional finance and tourism hub; high public debt linked to oil revenue dependence and limited tax base; vulnerable to water reservoir depletion
. Key agricultural products in this country include: lamb/mutton, dates, milk, tomatoes, chicken, eggs, sheep offal, sheepskins, eggplants, chillies/peppers (2023).More about the economy of Bahrain
| Labor force | 913,300 (2024 est.) |
|---|---|
| Industrial production growth rate | 0.1% (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 | 2.8% (of GDP) (2020 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Bahraini dinars (BHD) per US dollar - |
| Exchange rates 2024 | 0.376 (2024 est.) |
| 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.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2024 | $4.949 billion (2024 est.) |
| Reserves of foreign exchange and gold 2023 | $5.118 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $4.775 billion (2022 est.) |
| Current account balance | |
| Current account balance 2024 | $2.282 billion (2024 est.) |
| Current account balance 2023 | $2.699 billion (2023 est.) |
| Current account balance 2022 | $6.839 billion (2022 est.) |
| Public debt | |
| Public debt 2020 | 111.6% of GDP (2020 est.) |
| Budget | |
| Revenues | $5.538 billion (2020 est.) |
| Expenditures | $9.982 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 | 13.6% of household expenditures (2023 est.) |
| On alcohol and tobacco | 0.4% of household expenditures (2023 est.) |
| Imports | |
| Imports 2024 | $33.044 billion (2024 est.) |
| Imports 2023 | $32.374 billion (2023 est.) |
| Imports 2022 | $33.066 billion (2022 est.) |
| Imports (partners) | China 13%, Saudi Arabia 12%, UAE 11%, Brazil 8%, Australia 7% (2023) |
| Comodities Imports force | iron ore, aluminum oxide, ships, cars, gold (2023) |
| Exports | |
| Imports 2024 | $33.044 billion (2024 est.) |
| Imports 2023 | $32.374 billion (2023 est.) |
| Imports 2022 | $33.066 billion (2022 est.) |
| Exports (partners) | UAE 16%, Saudi Arabia 15%, South Africa 8%, USA 6%, India 4% (2023) |
| Comodities Exports force | refined petroleum, aluminum, iron ore, aluminum wire, jewelry (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $93.937 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $91.185 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $87.781 billion (2022 est.) |
| GDP (official exchange rate) | $47.737 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $59,100 (2024 est.) |
| Real GDP per capita 2023 | $57,800 (2023 est.) |
| Real GDP per capita 2022 | $57,600 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 0.3% (2023 est.) |
| Industry | 43.4% (2023 est.) |
| Services | 51.9% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 38.9% (2023 est.) |
| Government consumption | 14.6% (2023 est.) |
| Investment in fixed capital | 27.5% (2023 est.) |
| Investment in inventories | 1.8% (2023 est.) |
| Exports of goods and services | 87.4% (2023 est.) |
| Imports of goods and services | -70.1% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 1.2% (2024 est.) |
| Unemployment rate 2023 | 1.2% (2023 est.) |
| Unemployment rate 2022 | 1.4% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 5.2% (2024 est.) |
| Male | 2.5% (2024 est.) |
| Female | 12.4% (2024 est.) |
All Important Facts about Bahrain
Want to know more about Bahrain? Check all different factbooks for Bahrain below.
