Page 22 - BBD 2023-24 Full

BAHRAIN - ECONOMIC SNAPSHOT Bahrain: Economic Snapshot

Quick Facts


 Major Exports
Population

1,540,558 (2022 est.)

Refined petroleum, aluminum and plating, crude
petroleum, iron ore, gold (2019)

 Capital City
 Exports - partners
Manama
United Arab Emirates 31%, Saudi Arabia 12%,
Japan 8%, United States 8% (2019)
Manama, Riffa, Muharraq, Hamad Town, Aali

 Languages

$27.187 billion (2018 est.)
 Main Cities  Imports
Arabic (official), English, Farsi, Urdu
 Major Imports
 Religion
Muslim 73.7%, Christian 9.3%, Jewish 0.1%, Cars, Iron ore, Jewelry, Gold, Gas turbines
other 16.9% (2017 est.) Alluminium (2019)
 Imports - partners
 Population growth United Arab Emirates 27%, China 11%, Saudi
0.88% (2022 est.)
Arabia 7%, United States 5%, Brazil 5%,
 Life expectancy at birth Japan 5%, India 5% (2019)
Total population: 79.9 years  Real GDP
Male: 77.63 years Purchasing power parity - $72.267 billion
Female: 82.24 years (2022 est.)
Growth rate - 2.23% (2021)
 Literacy Per Capita - $49,400 (2021)
Definition: age 15 and over can read and write
 Natural Resources
Total population: 97.5% - Oil, Natural gas, Fish, Pearls
Male: 99.9%, Female: 94.9% (2018)
 Currency
 Labour force Bahraini Dinars
819,100 (2021)
 Exchange Rate
 Government type 1 Bahraini Dinar = 2.65 US Dollars (2021)
Constitutional monarchy
 Exchange rate policy
 Governorates Maintained against the US Dollar
4 (The Capital, Muharraq, Northern and
Southern)  Currency Regulations
No restriction on import or export of currency
 National Day
 Visa Requirements
16 December
th
It is requirement for all nationals and passport
 Legislature should have 6 months’ validity
Bicameral National Assembly consists of:  Chamber of Commerce
Consultative Council or Majlis al-Shura (40 Bahrain Chamber of Commerce & Industry
seats; members appointed by the king) PO Box 248, Manama
Council of Representatives or Majlis al-Nuwab Tel: 1738 0000, Fax: 1738 0123
(40 seats; members directly elected in single- Email: bcci@bcci.bh
seat constituencies by absolute majority vote in
2 rounds if needed; members serve 4-year  Gold Rate
renewable terms) 22K Gold - 22.60 BHD ,
24K Gold - 24.00 BHD(January 24th 2023)
 Legal system
Mixed legal system of Islamic (sharia) law,  Bahrain Gasoline price
English common law, criminal, civil law 0.2 bhd per liter
and commercial codes;  Oil price per barrel
30.19 BHD
 Major Industries
Petroleum processing and refining, Aluminum  Tax
smelting, Iron pelletization, Fertilizers, Islamic 10% VAT (Effective 2022)
and offshore banking, Insurance, Food processing,
Engineering, Handcrafts, Construction, Tourism
 Exports
$30.097 billion (2018 est.)
Sources:
 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/
https://blmi.lmra.gov.bh/2022/06/mi_dashboard.xml
sheep offals, sheep skins, eggs, pumpkins https://www.bahrain.bh/wps/portal/
20 Bahrain Banks Directory 2023