 Bahrain has a current account balance characterized by surpluses in merchandise trade and international services, and a large deficit in unilateral transfers by the country's large expatriate workforce sending home a portion of its earnings.In 2003 and 2004, the balance of payments improved due to rising oil prices and increased receipts from the services sector.As a result, the current account balance registered a surplus of US$219 million in 2003 and a surplus of US$442 million in 2004, compared to a deficit of US$35 million in 2002.