Economy of Bahrain

Economy of Bahrain
	Manama skyline
Currency	Bahraini dinar (BHD)
Fiscal year	Calendar Year
Trade organisations	WTO and GCC
Country group	Developing/Emerging; High-income economy;
Statistics
Population	1,588,670 (2024)
GDP	$47.39 billion (nominal, 2025 est.); $112.22 billion (PPP, 2025 est.);
GDP rank	97th (nominal, 2025); 99th (PPP, 2025);
GDP growth	2.6% (2024); 2.9% (2025e); 3.3% (2026f); 3.3% (2027f);
GDP per capita	$29,250 (nominal, 2025 est.); $69,270 (PPP, 2025 est.);
GDP per capita rank	45th (nominal, 2025); 24th (PPP, 2025);
GDP by sector	agriculture: 0.3%; industry: 43.4%; services: 51.9%; (2023 est.);
Inflation (CPI)	0.3% (2025)
Population below poverty line	N/A
Human Development Index	0.899 very high (2023) (38th); N/A IHDI (2022);
Labour force	913,340 (2024); 70.9% employment rate (2015); 44% of the population in the 15-64 age group is non-national;
Labour force by occupation	agriculture: 1%; industry: 32%; services: 67%; (2004 est.);
Unemployment	1.1% (2024);
Main industries	Offshore Banking and Islamic Banking, Aluminum Smelting, Petroleum processing and refining, Iron Pelletization, Fertilizers, Insurance, Ship Repairing, Tourism
External
Exports	$41.303 billion (2024 est.)
Export goods	Aluminum, Petroleum and Petroleum Products, Textiles, Gold, Jewellery, Cheese
Main export partners	United Arab Emirates 16%; Saudi Arabia 15%; South Africa 8%; United States 6%; India 4% (2023 est.);
Imports	$33.044 billion (2024 est.)
Import goods	Crude Oil, Machinery, Chemicals, Gold, Jewellery
Main import partners	China 13%; Saudi Arabia 12%; United Arab Emirates 11%; Brazil 8%; Australia 7% (2023 est.);
Gross external debt	$60.58 billion (2024 est.)
Public finances
Government debt	142.5% of GDP (2025 est.)
Revenues	$8.479 billion (2023)
Expenses	$10.532 billion (2023)
Credit rating	Standard & Poor's:; B+ (Domestic); B+ (Foreign); B+ (T&C Assessment);
	All values, unless otherwise stated, are in US dollars.

The economy of Bahrain has significantly diversified in recent years to be less dependent on oil and gas, although they remain an important part of the economy. As of 2024, the extraction of oil and natural gas is the third largest sector in the economy. Bahrain advocates for a mixed economy system. Two examples of Bahrain’s advocacy for this system in the late 20th century are heavily investing in the banking and tourism sectors. In 2008, Bahrain was ranked highly in the Global Financial Centres Index (GFCI), which evaluates financial centres using survey responses and quantitative indicators. Bahrain's banking and financial services sector, particularly Islamic banking, have benefited from the regional boom driven by demand for oil. Petroleum is Bahrain's most exported product, accounting for 60% of export receipts, 70% of government revenues, and 11% of GDP. Aluminum is the second most exported product, followed by finance and construction materials.

According to the 2020 edition of the Index of Economic Freedom, Bahrain has the fourth-freest economy in the Middle East and North Africa region and is the 40th-freest economy in the world. One alternative index providing the same statistics places Bahrain at 70th place. Bahrain was recognized by the World Bank as a high-income economy.