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BAHRAIN - ECONOMIC SNAPSHOT Bahrain: Economic Snapshot

Quick Facts

l
Major Exports
l
Population

refined petroleum, aluminum and plating, crude
1,526,929 (July 2021 est.)
petroleum, iron ore, gold (2019)

Capital City
l
Manama
Exports - partners
l
US 8%(2019)
Manama, Riffa, Muharraq, Hamad Town, Aali

Imports
l
Languages

$23.4 billion (2018 est.)
l Main Cities l UAE 31%, Saudi Arabia 12%, Japan 8%,
Arabic (official), English, Farsi, Urdu
l Religion l Major Imports
Muslim 73.7%, Christian 9.3%, Jewish 0.1%, cars, iron ore, jewelry, gold, gas turbines (2019)
other 16.9% (2017 est.) l Imports - partners
l Population growth UAE 27%, China 11%, Saudi Arabia 7%, US 5%,
0.9% (2021 est.) Brazil 5%, Japan 5%, India 5% (2019)
l Life expectancy l GDP (Purchasing Power Parity)
79.67 years $69.65 billion (2020 est.)
l Literacy l GDP per capita (Purchasing Power Parity)
97.46 (2018) (UNESCO) $40,900 (2020 est.)
l Labour force l Natural Resources
685,204 (2021) oil, associated and nonassociated natural gas,
l Government type fish, pearls
Constitutional monarchy l Currency
Bahraini Dinars
l Governorates
4 (The Capital, Muharraq, Northern and l Exchange Rate
Southern) 1 Bahraini Dinar = 2.65 US Dollars
l National Day l Exchange rate policy
16 December Maintained against the US Dollar
th
l Legislature l Currency Regulations
bicameral National Assembly consists of the No restriction on import or export of currency
Consultative Council or Majlis al-Shura(40 seats) l Visa Requirements
and the Council of Representatives or Majlis al- It is requirement for all nationals and passport
Nuwab(40 seats) should have 6 months’ validity
l Legal system l Chamber of Commerce
Mixed legal system of Islamic (sharia) law, Bahrain Chamber of Commerce & Industry
English common law, Egyptian civil, criminal, PO Box 248, Manama
and commercial codes; customary law Tel: 1738 0000, Fax: 1738 0123
l Days of Business Email: bcci@bcci.bh
Work schedules in government agencies l Gold Rate
07:00 - 14:15 (Sunday to Thursday) 22K Gold - 20.10 BHD , 24K Gold - 21.90 BHD
Banking and financial institutions, private sector (February 1 2022)
st
07:30 - 13:00 is the normal working hours l Bahrain Gasoline price
(Sunday to Thursday) 0.757 / Gallon
l Major Industries l Oil price per barrel
Petroleum processing and refining, aluminum 33.00 BHD
smelting, iron pelletization, fertilizers, islamic and l Tax
offshore banking, insurance, ship repairing,
tourism 10% VAT (Effective 2022)
l Exports
$27.64 billion (2018 est.)
Sources:
l Agricultural products https://data.worldbank.org/indicator/SP.DYN.LE00.MA.IN?locations=BH
mutton, dates, milk, poultry, tomatoes, fruit, https://www.cia.gov/the-world-factbook/countries/bahrain/
http://blmi.lmra.bh/2021/03/mi_dashboard.xml
sheep offals, sheep skins, eggs, pumpkins https://www.bahrain.bh/wps/portal/
24 Bahrain Banks Directory 2022