|
• GDP: US$11.6 billion (2005 estimate).
• Main exports: Petroleum and petroleum products, aluminum and textiles.
• Main imports: Crude oil, machinery and chemicals.
• Main trade partners: USA, Korea (Rep), Saudi Arabia, Japan, UK and Germany.
|
|
Oil dominates Bahrain’s economy and, together with gas and petrochemicals, accounts for the bulk of exports and government
revenue. That proportion is falling, however, as Bahrain seeks to diversify its economy and the reserves dwindle.
Several successful industrial projects, including aluminium production, an iron-ore processing facility and an ammonia-methanol
plant, have been set up.
In the service sector, the financial services industry has expanded dramatically in recent years, as companies trading in
the region have set up their regional centres in Bahrain, where the relatively relaxed environment is an important factor
in a region where rigorous social mores are often the norm.
In September 2004, a Free Trade Pact was signed with the USA. However, Saudi Arabia condemned the move, saying it hindered
regional economic integration.
|
Overview 
