According to cheeroutdoor, the economy of Bahrain is highly dependent on oil and gas. The country has the fourth-largest oil reserves in the Persian Gulf region, and petroleum production accounts for roughly 60% of the government’s revenues. Additionally, Bahrain is a major hub for banking and finance in the region, with a number of offshore banks and financial institutions operating in the country. The banking sector has grown significantly over the past several years, and now accounts for around 25% of Bahrain’s GDP. Tourism is also an important part of Bahrain’s economy, with visitors drawn to its beaches, cultural attractions, and vibrant shopping districts. In recent years, the government has focused on diversifying its economy by investing heavily in infrastructure projects such as airports, port facilities, and roads. These investments have helped to create jobs in construction and other industries related to tourism and transportation. Bahrain also boasts a large manufacturing sector that produces a variety of goods including aluminum products, textiles, leather goods, pharmaceuticals, foodstuffs, plastics and electrical equipment. Additionally, Bahrain is home to numerous foreign companies which employ thousands of people from around the world in roles such as accounting or finance professionals.
Business
Abbreviated as BHR by abbreviationfinder.org, Bahrain has a form of mixed economy, where the state wholly or partly owns all the oil and natural gas industry and heavy industry. Light industry, construction and trade and finance are privately owned.
According to COUNTRYAAH, agriculture focuses mainly on fruits and vegetables, but is of little importance to the country’s economy. Only 3 percent of the land is cultivable, mainly in connection with springs and oases in the north, and 20 percent of the area is useful as pasture. Previously, pearl fishing was Bahrain’s main source of income, but this role has been taken over by oil recovery. Pollution of the waters of the Gulf of Persia has had a very negative impact on the fishing industry.
Oil was discovered in 1932. It has given Bahrain an economic boost and has long been the backbone of the economy. However, the oil reserves are reduced and are expected to be depleted before 2020, with unchanged withdrawals, however gas supplies are expected to last longer. The authorities have therefore made every effort to make the economy more versatile, and the importance of the industry has increased. It mainly covers the aluminum, cement and plastics industries and the shipbuilding industry.
Note: the capital city of Bahrain is Manama with a population of 398,000 (2014 estimate). Other major cities include al-Muharraq.
Bahrain has been united with Saudi Arabia through a 25 km long road on built banks and over five bridges. In the country there are several good ports and an international airport, Muharraq.
There are direct and indirect negative effects on the fragile shore of the Persian Gulf (only 5 m deep in the area). The situation for the already heavily stressed ecosystems, mainly coral reefs, underwater beds and mangrove-grown tidal zone, is expected to worsen further.
History. – Despite the fact that subsequent agreements (1880, 1892) confirmed that of 1861, with which the islands were placed under the British protectorate, Persia has never ceased to claim sovereignty over the Bahrain islands for ancient possession, arguing: that the the 1783 insubordination of the sultan of Bahrain towards the central Persian government could not be considered as an act capable of giving independence to the Sultanate (which, moreover, reconfirmed its loyalty to the Iranian government in 1786, in 1817 and in 1860); that the aforementioned agreement of 1861 is void, since neither the East India Company could be considered a subject of international law nor the sultan organ of Iran. The Iranian claim takes place through attempts to negotiate with Great Britain in such a way as not to compromise relations with England. In 1953 and 1954 there were incidents and street demonstrations in the archipelago in favor of Iran, against foreign interventions, against the sultan and against the English governor. The shah, the government and the Iranian public have pampered these nationalistic movements, and in November 1957 the Persian government notified the British government that it intended to recognize Bahrain as the fourteenth region of Persia. On December 1, 1957, the sultan officially rejected the Iranian claims. A spokesman for the British Foreign Office officially declared, in November 1957 and again on November 24, 1958, that the England cannot recognize Iranian claims on Bahrain, an independent country under British protectorate. The Arab League also rejected the Iranian claims with a declaration of November 15, 1957, and on the 30th of the same month the government of Saudi Arabia ruled for the independence of Bahrain, arguing that it is geographically and culturally an Arab country. independent. Iraq has associated itself with this stance of the Arab countries.
