Bahrain: Visió econòmica i política
Bahrain's market constitutes one of the most diversified economies in the region. The country is very open to foreign trade, which accounted for 140% of the GDP in 2020 (World Bank, 2023). Petrochemical products account for over 60% of Bahraini exports, a share that is relatively low compared to the rest of the region. Bahrain has a strong steel and aluminium industry, accounting for up to 23.6% of exports. Petroleum products also account for the largest item of imports (30%), mainly crude oil imports from Saudi Arabia, followed by machineries, electrical and electronic equipment and cars and other vehicles.
Saudi Arabia is the top destination for Bahraini exports (17%), followed by the United Arab Emirates (9%), the United States (6%) and Oman (4.1%). Saudi Arabia was also the main supplier in 2021 (24% of total imports), followed by China (11.3%), Australia (5.7%) and the United Arab Emirates with 5.3% (Trade Economics, 2022).
Bahrain recorded a trade deficit of BD155 million (411.26 million USD) during 2022 compared to a deficit of BD643 million for the previous year (Zawya, 2023). Bahrain exports of goods stood at 22.36 billion USD in 2021, while imports increased from 12.68 billion USD to 14.18 billion USD in 2021 according to data from WTO. Exports of services increased to 13.22 billion USD in 2021, whereas imports of services increased to 10.28 billion USD (WTO, 2023).
The value of exports of Bahrain origin products increased 24%, reaching BD4.967 billion (13.18 billion USD) during 2022, compared to BD3.994 billion in the previous year. The value of imports into Bahrain increased 10% in 2022, reaching BD5.842 billion (15.5 billion USD), compared to BD5.316 billion for the previous year (Zawya, 2023).
Foreign Trade Values | 2017 | 2018 | 2019 | 2020 | 2021 |
Imports of Goods (million USD) | 10,850 | 14,871 | 13,256 | 12,683 | 14,188 |
Exports of Goods (million USD) | 15,376 | 18,044 | 18,120 | 14,066 | 22,369 |
Imports of Services (million USD) | 7,800 | 8,077 | 8,083 | 9,263 | 10,289 |
Exports of Services (million USD) | 11,356 | 12,249 | 11,776 | 11,468 | 13,225 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2016 | 2017 | 2018 | 2019 | 2020 |
Foreign Trade (in % of GDP) | 139.6 | 143.1 | 150.8 | 141.7 | 139.8 |
Trade Balance (million USD) | -804 | -700 | -1,066 | n/a | n/a |
Trade Balance (Including Service) (million USD) | 2,694 | 2,856 | 2,910 | n/a | n/a |
Imports of Goods and Services (Annual % Change) | -3.2 | 7.6 | 5.7 | -5.6 | -0.7 |
Exports of Goods and Services (Annual % Change) | -2.8 | 3.7 | 3.3 | 0.4 | -2.5 |
Imports of Goods and Services (in % of GDP) | 65.4 | 67.3 | 71.6 | 65.2 | 67.1 |
Exports of Goods and Services (in % of GDP) | 74.2 | 75.8 | 79.3 | 76.5 | 72.7 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2022 | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | -9.5 | 6.9 | 2.8 | 2.2 | 1.2 |
Volume of imports of goods and services (Annual % change) | 0.6 | 3.8 | 1.4 | 1.5 | 1.5 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Member of Arab League.
The country is also part of the Greater Arab Free Trade Area (GAFTA), a pact of the Arab League entered into force in January 2005 which aims to form an Arabic free trade area.
Main Customers (% of Exports) |
2020 |
Saudi Arabia | 16.8% |
United Arab Emirates | 8.8% |
United States | 6.0% |
Oman | 4.1% |
Netherlands | 3.6% |
Malaysia | 3.5% |
Egypt | 3.0% |
India | 2.7% |
Kuwait | 1.9% |
Türkiye | 1.7% |
South Korea | 1.5% |
Italy | 1.2% |
Thailand | 1.2% |
China | 1.1% |
Spain | 1.1% |
Algeria | 0.9% |
Morocco | 0.8% |
Brazil | 0.8% |
Hong Kong SAR, China | 0.7% |
Australia | 0.5% |
See More Countries | 60.6% |
Main Suppliers (% of Imports) |
2020 |
Saudi Arabia | 24.0% |
China | 11.3% |
Australia | 5.7% |
United Arab Emirates | 5.3% |
United States | 5.3% |
Brazil | 5.1% |
Japan | 4.5% |
India | 3.7% |
Switzerland | 3.4% |
Germany | 3.4% |
Italy | 3.4% |
South Korea | 3.1% |
United Kingdom | 2.3% |
Türkiye | 1.4% |
France | 1.3% |
Spain | 1.2% |
Thailand | 1.2% |
Oman | 0.9% |
Vietnam | 0.8% |
Netherlands | 0.8% |
See More Countries | 48.4% |
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import Export Flows.
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Actualitzacions: May 2023
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