mic growth in recent years. Aluminum is Bahrain's second
major export after oil. Other major segments of Bahrain's economy
are the financial and construction sectors. Bahrain is focused on
Islamic banking and is competing on an international scale with
Malaysia as a worldwide banking center. Bahrain is actively pursuing
the diversification and privatization of its economy to reduce the
country's dependence on oil. As part of this effort, in August 2006
Bahrain and the US implemented a Free Trade Agreement (FTA), the
first FTA between the US and a Gulf state. Continued strong growth
hinges on Bahrain's ability to acquire new natural gas supplies as
feedstock to support its expanding petrochemical and aluminum
industries. Unemployment, especially among the young, and the
depletion of oil and underground water resources are long-term
economic problems.

GDP (purchasing power parity):

$24.01 billion (2007 est.)

GDP (official exchange rate):

$19.66 billion (2007 est.)

GDP - real growth rate:

6.7% (2007 est.)

GDP - per capita (PPP):

$33,900 (2007 est.)

GDP - composition by sector:

agriculture: 0.3%
industry: 43.6%
services: 56% (2007 est.)

Labor force:

437,000
note: 44% of the population in the 15-64 age group is non-national
(2007 est.)

Labor force - by occupation:

agriculture: 1%
industry: 79%
services: 20% (1997 est.)

Unemployment rate:

15% (2005 est.)

Population below poverty line:

NA%

Household income or consumption by percentage share:

lowest 10%: NA%
highest 10%: NA%

Investment (gross fixed):

22.3% of GDP (2007 est.)

Budget:

revenues: $5.418 billion
expenditures: $4.968 billion (2007 est.)

Fiscal year:

calendar year

Public debt:

31.2% of GDP (2007 est.)

Inflation rate (consumer prices):

3.3% (2007 est.)

Commercial bank prime lending rate:

8.35% (31 December 2007)

Stock of money:

$4.169 billion (31 December 2007)

Stock of quasi money:

$10.63 billion (31 December 2007)

Stock of domestic credit:

$10.32 billion (31 December 2007)

Agriculture - products:

fruit, vegetables; poultry, dairy products; shrimp, fish

Industries:

petroleum processing and refining, aluminum smelting, iron
pelletization, fertilizers, Islamic and offshore banking, insurance,
ship repairing, tourism

Industrial production growth rate:

5.2% (2007 est.)

Electricity - production:

9.233 bill