of a
"third pillar," e-commerce.

Bahrain
In well-to-do Bahrain, petroleum production and refining
account for about 60% of export receipts, 60% of government
revenues, and 30% of GDP. With its highly developed communication
and transport facilities, Bahrain is home to numerous multinational
firms with business in the Gulf. A large share of exports consist of
petroleum products made from refining imported crude. Construction
proceeds on several major industrial projects. Unemployment,
especially among the young, and the depletion of oil and underground
water resources are major long-term economic problems. In September
2004 Bahrain signed a Free Trade Agreement (FTA) with the United
States - the first such agreement undertaken by a Gulf state. Both
countries must ratify the FTA before it is enforced.

Baker Island
no economic activity

Bangladesh
Despite sustained domestic and international efforts to
improve economic and demographic prospects, Bangladesh remains a
poor, overpopulated, and ill-governed nation. Although half of GDP
is generated through the service sector, nearly two-thirds of
Bangladeshis are employed in the agriculture sector, with rice as
the single-most-important product. Major impediments to growth
include frequent cyclones and floods, inefficient state-owned
enterprises, inadequate port facilities, a rapidly growing labor
force that cannot be absorbed by agriculture, delays in exploiting
energy resources (natural gas), insufficient power supplies, and
slow implementation of economic reforms. Economic reform is stalled
in many instances by political infighting and corruption at all
levels of government. Progress also has been blocked by opposition
from the bureaucracy, public sector unions, and other vested
interest groups. The BNP government, led by Prime Minister Khaleda
ZIA, has the parliamentary strength to push through needed reforms,
but the party's political will to do so has been lacking in key
areas. One encouraging note: growth has been a steady 5% for the
past several years.

Barbados
Historically, the Barbadian economy had been dependent on
sugarcane cultivation and related activities, but production in
recent years has diversified into light industry and tourism.
Offshore finance and information services are important foreign
exchange earners. The government continues its efforts to reduce
unemploymen