In the Middle East, Bahrain has earned the rank of being the most economically progressive country and it is known worldwide as the 16th most free economy (ranked by The Heritage Foundation). This economic growth has come about due to the simple administrative and legal systems that have aided the industrialization of Bahrain. First and foremost of the industries of Bahrain is the large oil refinery. Petroleum production and refining account for over 60% of Bahrain's export receipts, over 70% of government revenues, and 11% of GDP (exclusive of allied industries), underpinning Bahrain's strong economic growth in recent years. Bahrain's other industries include the majority state-owned Aluminum Bahrain (Alba) which operates the largest aluminum smelter in the world outside. Regional tourism is also a significant source of income. Bahrain also has become a major regional banking and communications center, as well as a centre for insurance and financing.