List of Banks in Bahrain, Open an Account in Bahrain

 

 

Economy—overview: In Bahrain petroleum production and processing account for about 60% of export receipts 60% of government revenues and 30% of GDP. Economic conditions have fluctuated with the changing fortunes of oil since 1985 for example during and following the Gulf crisis of 1990-91. With its highly developed communication and transport facilities Bahrain is home to numerous multinational firms with business in the Gulf. A large share of exports consists of petroleum products made from imported crude. Construction proceeds on several major industrial projects. Unemployment especially among the young and the depletion of both oil and underground water resources are major long-term economic problems.

 

GDP: purchasing power parity—$8.2 billion (1997 est.)

 

GDP—real growth rate: 2.7% (1997 est.)

 

GDP—per capita: purchasing power parity—$13 700 (1997 est.)

 

GDP—composition by sector:

 

agriculture: 1%

 

industry: 38%

 

services: 61% (1995)

 

Inflation rate—consumer price index: -0.2% (1996 est.)

 

Labor force:

 

total: 140 000

 

by occupation: industry commerce and service 78% government 21% agriculture 1% (1994)

 

note: 44% of the population in the 15-64 age group is non-national (July 1998 est.)

 

Unemployment rate: 15% (1996 est.)

 

Budget:

 

revenues: $1.7 billion

 

expenditures: $1.9 billion including capital expenditures of $400 million (1998 est.)

 

Industries: petroleum processing and refining aluminum smelting offshore banking ship repairing; tourism

 

Industrial production growth rate: 3.4% (1995)

 

Electricity—capacity: 1.05 million kW (1995)

 

Electricity—production: 4.4 billion kWh (1995)

 

Electricity—consumption per capita: 7 640 kWh (1995)

 

Agriculture—products: fruit vegetables; poultry dairy products; shrimp fish

 

Exports:

 

total value: $4.6 billion (f.o.b. 1996)

 

commodities: petroleum and petroleum products 61% aluminum 7%

 

partners: India 22% Japan 12% Saudi Arabia 6% US 6% UAE 5% (1995)

 

Imports:

 

total value: $3.7 billion (f.o.b. 1996)

 

commodities: nonoil 63% crude oil 37%

 

partners: Saudi Arabia 40% US 13% UK 7% Japan 5% Switzerland 5% (1995)

 

Debt—external: $3.2 billion (1995)

 

Economic aid: $NA

 

Currency: 1 Bahraini dinar (BD) = 1 000 fils

 

Exchange rates: Bahraini dinars (BD) per US$1—0.3760 (fixed rate)

 

Fiscal year: calendar year