High oil and gas prices provide respite from looming debt crises
C3
SENSITIVE RISK for entreprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Updated in January 2023.
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GDP | USD 38.9bn (World ranking 97, World Bank 2021) |
Population | 1.7mn (World ranking 151, World Bank 2021) |
Form of state | Constitutional monarchy |
Head of government | Crown Prince SALMAN bin Hamad Al-Khalifa (Prime Minister) |
Next elections | 2026, legislative |

- Relatively (in a regional context) diversified economy, with oil, manufacturing (including aluminum and petro-chemicals) and financial sectors
- Pro-business stance and commercial and trading environment rated highly by independent international assessments
- Financial and other support from larger regional states, particularly Saudi Arabia

- Tensions between the ruling Sunni community and the Shia majority
- Regional instability, including potential for contagion stemming from events in Iran, Iraq and/or Syria
- Despite economic diversification, there is still a high dependence on oil revenues, directly (own output) and indirectly (regional influence)
- Sharply deteriorated public finances since 2015
- Low FX reserves (import cover < 2 months)
- Very high external debt
- Poor data transparency
Trade structure by destination/origin
(% of total, annual 2021)
Exports | Rank | Imports |
---|---|---|
United Arab Emirates
20.7%
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1 |
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Saudi Arabia
15.3%
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2 |
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United States
7.7%
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3 |
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Japan
6.0%
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4 |
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Oman
4.0%
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5 |
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Trade structure by product
(% of total, annual 2021)
Exports | Rank | Imports |
---|---|---|
Petroleum, petroleum products and related materials
31.2%
|
1 |
23.4%
Petroleum, petroleum products and related materials
|
Non-ferrous metals
21.9%
|
2 |
11.1%
Metalliferous ores and metal scrap
|
Metalliferous ores and metal scrap
11.3%
|
3 |
5.4%
Road vehicles
|
Iron and steel
6.5%
|
4 |
4.8%
Other transport equipment
|
Manufactures of metal, n.e.s.
3.0%
|
5 |
4.4%
Miscellaneous manufactured articles, n.e.s.
|
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