"Gulf Statistician"Bahrain consolidates its economic, tourism and logistical position with record growth numbers
Muscat, December 17, 2017 – The Statistical Center for the Cooperation Council for the Arab States of the Gulf issued data highlighting the positive transformations achieved by the Kingdom of Bahrain in recent years at the economic, commercial and tourism levels, coinciding with the National Day of the Kingdom of Bahrain, corresponding to December 16, which reflects the success of its development policies and its economic vision 2030, and confirms the structural transformation in the structure of the economy and the strengthening of the Kingdom’s position regionally and internationally.
The Center’s data shows that the merchandise trade balance of the Kingdom of Bahrain witnessed a fundamental improvement, moving from a deficit of 0.13 billion US dollars to a surplus of 3.61 billion dollars, driven by strong growth in exports. Merchandise exports increased from $14.06 billion to $24.27 billion, achieving a growth of 72.6%, while imports increased from $14.19 billion to $20.66 billion, a growth rate of 45.6%, reflecting the recovery of commercial activity and the strengthening of Bahrain’s role as a regional exchange center.
In the financial sector, financial and insurance activities maintained a stable contribution of 16.5% of the GDP at current prices, while the added value of the sector increased from $6.47 billion to $9.37 billion, achieving growth of 45%. The banking sector also witnessed a remarkable growth in the assets of commercial banks from $55.67 billion to $71.42 billion, a growth rate of 28.3%, which reflects the strength of the banking system and its ability to expand and absorb.
Manufacturing industries maintained a strong contribution of 19.9% of the GDP, with an added value of $9.37 billion. The value of non-oil activities also increased from $27.73 billion to $40.43 billion, constituting 85.9% of the gross domestic product, while non-oil exports grew from $5.94 billion to $11.83 billion, a growth rate of 62%, confirming the success of the economic diversification strategy.
The tourism sector recorded an exceptional performance, as the Kingdom of Bahrain received the highest number of tourists in its history during the year 2024, amounting to 14 million 881 thousand and 607 tourists, an increase of 19.94% compared to the year 2023. The results of tourism performance during 2024 also showed an increase of approximately 13% in tourism revenues compared to the same period in 2023, which reflects the strong recovery of the sector and the strengthening of its position. Bahrain as a regional tourist destination.
The Kingdom’s gross domestic product increased at current prices from $35.83 billion to $47.09 billion, achieving a growth of 31.5%. It also increased at constant prices from $34.08 billion to $40.25 billion, in an indicator that reflects the strength of economic performance and the sustainability of development paths.
These indicators, based on data from the Gulf Statistical Center, confirm that the Kingdom of Bahrain is moving steadily towards achieving the goals of its economic vision 2030, based on a diversified economy, an attractive investment environment, and balanced growth that enhances its competitiveness at the regional and international levels.
The Kingdom of Bahrain is a land deeply rooted in history, as its civilization dates back more than five thousand years. It was home to ancient civilizations such as Dilmun, Tylos, and Awal, a vital commercial center, and a maritime crossing point between East and West. The Bahraini archaeological sites included on the World Heritage List represent international recognition of the Kingdom’s cultural depth, and reflect historical leadership in preserving cultural memory.
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