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Small Business (BC),
Vancouver, Canada |
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Introduction
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Background: |
In 1783, the al-Khalifa family captured Bahrain from the Persians. In order to secure these holdings, it entered into a series of treaties with the UK during the 19th century that made Bahrain a British protectorate. The archipelago attained its independence in 1971. Bahrain`s small size and central location among Persian Gulf countries require it to play a delicate balancing act in foreign affairs among its larger neighbors. Facing declining oil reserves, Bahrain has turned to petroleum processing and refining and has transformed itself into an international banking center. King HAMAD bin Isa al-Khalifa, after coming to power in 1999, pushed economic and political reforms to improve relations with the Shia community. Shia political societies participated in 2006 parliamentary and municipal elections. Al Wifaq, the largest Shia political society, won the largest number of seats in the elected chamber of the legislature. However, Shi`a discontent has resurfaced in recent years with street demonstrations and occasional low-level violence. |
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Country name: |
conventional long form: Kingdom of Bahrain
conventional short form: Bahrain
local long form: Mamlakat al Bahrayn
local short form: Al Bahrayn
former: Dilmun
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Government type: |
constitutional monarchy
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Capital: |
name: Manama
geographic coordinates: 26 14 N, 50 34 E
time difference: UTC+3 (8 hours ahead of Washington, DC during Standard Time)
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Administrative divisions: |
5 governorates, Asamah, Janubiyah, Muharraq, Shamaliyah, Wasat
note: each governorate administered by an appointed governor
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Independence: |
15 August 1971 (from UK)
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National holiday: |
National Day, 16 December (1971), note - 15 August 1971 was the date of independence from the UK, 16 December 1971 was the date of independence from British protection
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Constitution: |
adopted 14 February 2002
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Legal system: |
based on Islamic law and English common law, has not accepted compulsory ICJ jurisdiction
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Suffrage: |
20 years of age, universal
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Executive branch: |
chief of state: King HAMAD bin Isa al-Khalifa (since 6 March 1999), Heir Apparent Crown Prince SALMAN bin Hamad (son of the monarch, born 21 October 1969)
head of government: Prime Minister KHALIFA bin Salman al-Khalifa (since 1971), Deputy Prime Ministers ALI bin Khalifa bin Salman al-Khalifa, MUHAMMAD bin Mubarak al-Khalifa, Jawad al-ARAIDH
cabinet: Cabinet appointed by the monarch
elections: the monarchy is hereditary, prime minister appointed by the monarch
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Legislative branch: |
bicameral legislature consists of the Consultative Council (40 members appointed by the King) and the Council of Representatives or Chamber of Deputies (40 seats, members directly elected to serve four-year terms)
elections: Council of Representatives - last held November-December 2006 (next election to be held in 2010)
election results: Council of Representatives - percent of vote by society - NA, seats by society - al Wifaq (Shia) 17, al Asala (Sunni Salafi) 5, al Minbar (Sunni Muslim Brotherhood) 7, independents 11, note - seats by society as of February 2007 - al Wifaq 17, al Asala 8, al Minbar 7, al Mustaqbal (Moderate Sunni pro-government) 4, unassociated independents (all Sunni) 3, independent affiliated with al Wifaq (Sunni oppositionist) 1
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Judicial branch: |
High Civil Appeals Court
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Political parties and leaders: |
political parties prohibited but political societies were legalized per a July 2005 law
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Political pressure groups and leaders: |
Shia activists, Sunni Islamist legislators
other: several small leftist and other groups are active
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International organization participation: |
ABEDA, AFESD, AMF, FAO, G-77, GCC, IBRD, ICAO, ICC, ICCt (signatory), ICRM, IDA, IDB, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM (observer), IPU, ISO, ITSO, ITU, ITUC, LAS, MIGA, NAM, OAPEC, OIC, OPCW, PCA, UN, UNCTAD, UNESCO, UNIDO, UNWTO, UPU, WCO, WFTU, WHO, WIPO, WMO, WTO
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Flag description: |
red, the traditional color for flags of Persian Gulf states, with a white serrated band (five white points) on the hoist side, the five points represent the five pillars of Islam
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Economy - overview: |
With its highly developed communication and transport facilities, Bahrain is home to numerous multinational firms with business in the Gulf. Petroleum production and refining account for over 60% of Bahrain`s export receipts, over 70% of government revenues, and 11% of GDP (exclusive of allied industries), underpinning Bahrain`s strong economic 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. The global financial crisis is likely to result in slower economic growth for Bahrain during 2009 as tight international credit and a slowing global economy cause funding for many non-oil projects to dry up. Lower oil prices may also cause Bahrain`s budget to slip back into deficit.
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GDP (purchasing power parity): |
$26.75 billion (2008 est.)
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GDP (official exchange rate): |
$19.68 billion (2008 est.)
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GDP - real growth rate: |
7% (2008 est.)
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GDP - per capita (PPP): |
$37,200 (2008 est.) |
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GDP - composition by sector: |
agriculture: 0.3%
industry: 43.6%
services: 56% (2007 est.)
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Labor force: |
463,000
note: 44% of the population in the 15-64 age group is non-national (2008 est.)
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Labor force - by occupation: |
agriculture: 1%
industry: 79%
services: 20% (1997 est.)
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Unemployment rate: |
15% (2005 est.) |
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Household income or consumption by percentage share: |
lowest 10%: NA%
highest 10%: NA%
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Investment (gross fixed): |
27.3% of GDP (2008 est.) |
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Budget: |
revenues: $7.226 billion
expenditures: $5.806 billion (2008 est.)
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Public debt: |
33.2% of GDP (2008 est.)
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Inflation rate (consumer prices): |
7% (2008 est.)
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Commercial bank prime lending rate: |
8.35% (31 December 2007)
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Stock of money: |
$4.169 billion (31 December 2007)
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Stock of quasi money: |
$10.63 billion (31 December 2007)
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Stock of domestic credit: |
$10.32 billion (31 December 2007)
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Market value of publicly traded shares: |
$28.13 billion (31 December 2007) |
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Industries: |
petroleum processing and refining, aluminum smelting, iron pelletization, fertilizers, Islamic and offshore banking, insurance, ship repairing, tourism
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Electricity - production: |
9.233 billion kWh (2006 est.) |
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Electricity - consumption: |
8.742 billion kWh (2006 est.) |
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Electricity - exports: |
0 kWh (2007 est.) |
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Electricity - imports: |
0 kWh (2007 est.) |
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Oil - production: |
48,610 bbl/day (2007 est.)
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Oil - consumption: |
32,830 bbl/day (2006 est.)
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Oil - exports: |
238,900 bbl/day (2005)
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Oil - imports: |
221,500 bbl/day (2005)
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Oil - proved reserves: |
124.6 million bbl (1 January 2008 est.) |
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Natural gas - production: |
11.33 billion cu m (2006 est.) |
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Natural gas - consumption: |
11.33 billion cu m (2006 est.) |
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Natural gas - exports: |
0 cu m (2007 est.) |
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Natural gas - imports: |
0 cu m (2007 est.) |
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Natural gas - proved reserves: |
92.03 billion cu m (1 January 2008 est.) |
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Current account balance: |
$2.269 billion (2008 est.) |
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Exports: |
$19.17 billion (2008 est.)
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Exports - commodities: |
petroleum and petroleum products, aluminum, textiles |
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Exports - partners: |
Saudi Arabia 3.5%, US 2.5%, UAE 2.5%
note: data exclude oil exports (2007)
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Imports: |
$15.64 billion (2008 est.)
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Imports - commodities: |
crude oil, machinery, chemicals |
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Imports - partners: |
Saudi Arabia 37.7%, Japan 7.2%, US 6.2%, Germany 4.7%, UK 4.5%, UAE 4.2%, China 4.1% (2007)
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Reserves of foreign exchange and gold: |
$4.865 billion (31 December 2008 est.) |
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Debt - external: |
$10.57 billion (31 December 2008 est.)
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Stock of direct foreign investment - at home: |
$15.2 billion (2008 est.) |
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Stock of direct foreign investment - abroad: |
$9.52 billion (2008 est.) |
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Exchange rates: |
Bahraini dinars (BHD) per US dollar - 0.376 (2008 est.), 0.376 (2007), 0.376 (2006), 0.376 (2005), 0.376 (2004)
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Telephones - main lines in use: |
194,200 (2006) |
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Telephones - mobile cellular: |
1.116 million (2007) |
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Telephone system: |
general assessment: modern system
domestic: modern fiber-optic integrated services, digital network with rapidly growing use of mobile-cellular telephones
international: country code - 973, landing point for the Fiber-Optic Link Around the Globe (FLAG) submarine cable network that provides links to Asia, Middle East, Europe, and US, tropospheric scatter to Qatar and UAE, microwave radio relay to Saudi Arabia, satellite earth station - 1 (2007)
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Radio broadcast stations: |
AM 2, FM 3, shortwave 0 (1998) |
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Television broadcast stations: |
4 (1997) |
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Internet country code: |
.bh |
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Internet hosts: |
2,621 (2008) |
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Internet users: |
250,000 (2007) |
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Airports: |
3 (2007)
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Airports - with paved runways: |
total: 3
over 3,047 m: 2
1,524 to 2,437 m: 1 (2007)
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Heliports: |
1 (2007)
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Pipelines: |
gas 20 km, oil 52 km (2007)
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Roadways: |
total: 3,498 km
paved: 2,768 km
unpaved: 730 km (2003)
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Merchant marine: |
total: 9
by type: bulk carrier 4, container 4, petroleum tanker 1
foreign-owned: 6 (Kuwait 5, UAE 1) (2008)
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Ports and terminals: |
Mina` Salman, Sitrah
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