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Economy of Bahrain

Bahrain, also known as Kingdom of Bahrain, is an island nation positioned around the western shores of the Persian Gulf. It is a country that has taken some huge steps for enhancing the condition of its economy. The unparalleled and substantial expansion in the sectors of communication and transport has made the Bahrain a gateway of business success for more than enough multinational companies all across the globe. Global investors are happy to instigate new businesses in Bahrain because they feel that their businesses are safe under the strong economic conditions of Bahrain. Just to expand the business growth plans, Bahrain made Free Trade Agreement (FTA) with United States of America in the year 2006. Bahrain predominantly relies on the petroleum reserves; however, the other main production sectors are aluminum smelting, iron pelletization, fertilizers, ship repairing, tourism, Islamic and offshore banking. Sadly it was the time of 2011, when Bahrain was hit quite badly in terms of monetary affairs due to the unrest. Despite of that, Bahrain quickly recovered from that scenario and was back on track, courtesy of its firm economic policies. Manama is the capital and also the largest city of Bahrain. In Bahrainn they have a calendar year system for handling the monetary affairs of country. As per 2013 statistics, the GDP of Bahrain was estimated $26.108 billion while the GDP growth rate was 4.4%.

Imports of Bahrain

Bahrain imports a considerable amount of crude fuel, chemicals, plastics, rubber, textile products, livestock, vegetables, minerals, machinery, mechanical appliances, electrical equipment, machinery parts, vehicles, vessels and articles of travel goods to cope with the varying demands of its countrymen. As per 2013 statistics, the imports of Bahrain were estimated $14.41 billion. The countries like Saudi Arabia, China, Japan, India and France are considered to be the major import associates of Bahrain.

Exports of Bahrain

Bahrain is a country that holds hefty amount of natural reserves, as a result the country exports commodities like petroleum, petroleum products, base metals, aluminum, textiles, livestock, beverages, mineral products and raw hides & skins. The exports of Bahrain were estimated $20.69 billion as per 2013 statistics. With its stable economic condition, the graph of Bahrain exports is constantly growing at a decent rate. The countries like KSA, UAE, Korea and India are considered major exports partner of Bahrain.

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Capital
Manama
Dialing Code
+973
Fiscal Year
Calendar Year
Currency
Bahraini Dinar (BHD)
GDP
$26,820,000,000
Exports
$20.23 billion (2011 est.) | Petroleum And Petroleum Products, Aluminum, Textiles
Imports
$16.8 billion (2011 est.) | Crude Oil, Machinery, Chemicals
Industries
Petroleum Processing And Refining, Aluminum Smelting, Iron Pelletization, Fertilizers, Islamic And Offshore Banking, Insurance, Ship Repairing, Tourism