Economy of Bahrain
Bahrain is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Bahrain may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Bahrain exports around $20.69 billion and imports roughly $14.41 billion. 1.3% of population in the country are unemployed. The total number of unemployed people in Bahrain is 20,371. Government expenditure on education is 2.9% of GDP. The Gini Index of the country is 57. Bahrain is experiencing inequality. The gap between the richest and poorest citizens in this country is significant and obvious, resulting in a drastically different standard of living for rich and poor citizens. Bahrain has a Human Development Index (HDI) of 0.815. Bahrain has a high HDI score. This indicates that the majority of citizens will be able to attain a desirable life while providing substantial aid and assistance to citizens with lower living standards. The Global Peace Index (GPI) for Bahrain is 2.142. The strength of legal rights index for Bahrain is 1. Overall, it is considered to be rather weak - bankrupcy and collateral laws are unable to protect the rights of borrowers and lenders in case of credit-related complications; credit information, if any at all, is scarce and hardly accessible.
Currency
The currency of Bahrain is Bahraini dinar. The plural form of the word Bahraini dinar is dinars. The symbol used for this currency is .د.ب, and it is abbreviated as BHD. The Bahraini dinar is divided into Fils; there are 1000 in one dinar.
Credit rating
The depth of credit information index for Bahrain is 7, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, Bahrain has a credit rating score of BBB-, and the prospects of this rating are negative. According to the Fitch credit-rating agency, Bahrain has a credit rating score of BBB, and the prospects of this rating are stable. According to the Moody's credit-rating agency, Bahrain has a credit rating score of Baa1, and the prospects of this rating are negative.
Central bank
The prime lending rate of Bahrain's commercial banks is 6.8. In Bahrain, the institution that manages the state's currency, money supply, and interest rates is called Central Bank of Bahrain. Locally, the central bank of Bahrain is called مصرف البحرين المركزي. The average deposit interest rate offered by local banks in Bahrain is 1%.
Public debt
Bahrain has a government debt of 32.1% of the country's Gross Domestic Product (GDP), as assessed in 2013.
Tax information
The corporate tax in Bahrain is set at 0%. Personal income tax ranges from 0% to 0%, depending on your specific situation and income level.
Finances
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Bahrain is $34.908 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Bahrain was last recorded at $0 million. PPP in Bahrain is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Bahrain is 29 billion. Based on this statistic, Bahrain is considered to have a small economy. Countries with small economies generally support less industries and opportunities for investment. However, worthwhile investment opportunities may be found. The Gross Domestic Product (GDP) per capita in Bahrain was last recorded at $0 million. The average citizen in Bahrain has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Bahrain averaged 3.9% in 2014. According to this percentage, Bahrain is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly. To read more about financial information click on finances of Bahrain.
Industry
Major industries in the country are petroleum processing and refining, aluminum smelting, iron pelletization, fertilizers, Islamic and offshore banking, insurance, ship repairing, tourism. The total labor force of Bahrain is 864,920 people, wherein 1.3% of population in the country are unemployed. The total number of unemployed people in Bahrain is 20,371. The Industrial Production growth rate of Bahrain is 1.5%.To read more about industrial information within Bahrain click on industry of Bahrain.
Agriculture
There are 19 km2 of arable land in Bahrain, and it comprises 2% of the country's total territory. There are 56 km2 of cultivated land in Bahrain. The country's major agricultural crops and products are fruit, vegetables, poultry, dairy products, shrimp, fish.To read more about agriculture click on agriculture of Bahrain.