Bahrain
The Economy of Bahrain
The official currency of Bahrain is the Bahrain Dinar.
Through the years, there have been many changes in Bahrain’s economy. Until the beginning of the 20th century, the pearl industry was the country’s main source of income. After the world’s economy fell into depression at the end of the twenties, the pearl business was gravely damaged. Fortunately for Bahrain, as the demand for pearls decreased, the demand for oil increased.
Nowadays the oil production of Bahrain is small compared to other nations in the Gulf. Since the thirties oil production has dominated Bahrain’s economy. In the early sixties Bahrain extended the petroleum industry to petrochemical processes, manufacturing, ship repairs, and industrial, financial, and business services.
