Bahrain
BAHRAIN - Fast Facts:
KINGDOM OF BAHRAIN
Capital: Manama – ca. 300.000 inhabitants
Population: 1,2 Million
Timezone: UTC +3 hrs
Head of State: H.E. King Hamad Bin Isa Al-Khalifa (1999)
Currency: Bahraini Dinar
GDP per capita: 27.800 US-$
GDP composition per sector: agriculture: 0,4 % ; 50industry 50,7 %; services 48,9 %
Human Development Index Rank (2013): 44 (of 187)
Oil Reserves: 0,125 billion bls
The sunni Al-Khalifa royal family has been the preponderant political force since 1783. Independent since 1971, Bahrain was of great interest for British maritime trade routes due to its strategic position and entered into a treaty relationship with Great Britain in 1820.
In 1932 Bahrain was the first gulf state to find Oil. However as Bahrain possesses only very limited oil resources and is expected to run out of oil in less than a decade. This would further increase Bahraini dependence on Saudi good will. This has created a bigger dependence on foreign investment and also resulted in creating a greater openness and willingness to accept foreign ownership.
The most important contributor to the GDP is the 70 % state owned industrial giant Bahrain Alba, contributing itself 13 % to the GDP. By now the share of the trade and services-based sector to the GDP is a lot higher than that of the oil and gas-sector. Yet, 26 % of the GDP are still generated through oil exports. Privatizations continue by reducing the state´s share of capital. Investments of up to 22 billion USD in infrastructure projects are planed till the year 2020.
Good relations with Saudi-Arabia, other members of the GCC plus the USA have been for decades a determining factor for Bahrain’s foreign relations. Bahrain is also the regional headquarter of the US 5th fleet. Since 2004 Manama hosts the Gulf Security dialogue (Manama dialogue), organized by the London based Institute for Strategic Studies (IISS).
Though it is the smallest of the GCC states, Bahrain plays a very constructive role and coordinates its foreign policy closely with neighboring states. The close cooperation became particularly visible, when Saudi Arabia at the request of Bahrain Saudi became active in March 2011 following mass protests to stabilize the Bahraini monarchy. A small island country, connected with Saudi Arabia by the King Fahd causeway, Saudi Arabia is naturally of prime importance for Bahrain.
Sources: World Bank, UNDP, IMF, German Foreign Office (AA). This text constitutes a basic information and is regularly updated. Correctness and completeness of the data cannot be guaranteed. Read the full disclaimer.