Bahrain
Bahrain – which name means “two seas” – was one of the first states in the Gulf to discover oil and to build a refinery. It never reached the levels of production enjoyed by Kuwait or Saudi Arabia, and so has had to diversify its economy.
Located in one of the world’s chief oil-producing regions, Bahrain itself has only small stores of petroleum. Instead, its economy has long relied on processing crude oil from neighboring countries, and more recently the financial, commercial services, and communications sectors have grown markedly, as has tourism.
Bahrain in Brief:
Capital:
Manama
Currency:
Bahraini Dinar (BHD)
Language:
Arabic
Time zone:
GMT+3
Bahrain & Logistics:
Bahrain has developed one of the most diversified economies in the Persian Gulf region. Bahrain’s economic activity, like that of other Arab states in the Persian Gulf, has largely centered on the production of crude oil and natural gas and on refining petroleum products, making the country sensitive to fluctuations in the world oil market. Bahrain has built on its long tradition of shipping and commerce, however, and has been more successful than some other states in the gulf in developing manufacturing and commercial and financial services. The non-oil sector includes petrochemicals, ship repair, aluminum refining, and light manufacturing.
Bahrain Logistics Zone is the region’s first boutique logistics park. Regulated and managed by the Ports and Maritime Affairs at the Ministry of Transportation and Telecommunications, the BLZ offers local, regional and international companies a base to establish and operate freely in a customs-bonded area and places them in a perfect position to pursue the growing Northern Gulf and GCC market opportunities quickly and more economically.
Top Imports of Bahrain:
- Cars ($775M)
- Iron Ore ($328M)
- Gas Turbines ($321M)
- Planes
- Helicopters
- Spacecraft ($152M)
- Rolled Tobacco ($133M)
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- Refined Petroleum ($2.1B)
- Raw Aluminium ($1.03B)
- Aluminium Wire ($286M)
- Aluminium Plating ($273M)
- Iron Ore ($187M)
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