The total exports of Bahrain in 2004 stood at BD2.83bn (nearly US$7.5 billion)and oil exports contributed BD2.08bn of the total exports during the period. The oil’s contribution to the total exports has been increasing gradually as it increased from 66% in 2001 to 73.8% in 2004.
Despite the rigorous diversification efforts by the Bahraini government, the gradual growth indicates Bahrain’s continued dependence on oil. On the other hand, the total non-oil exports stood at BD0.74bn or around 26.2% of the total exports in 2004. The non-oil exports reported an increase of 0.8% in 2004 and hence the contribution to the total exports has been the lowest since 2000. The total exports in 2004 were up by 13.4% to BD2.83bn, on account of both the increase in production as well as higher oil prices in the year 2004.
