GDP increased by 3.2pc in 2015

Manama  : Bahrain’s Gross Domestic Product (GDP) has jumped by 3.2 per cent in 2015, reaching BD11.62 billion, informed Industry, Commerce and Tourism Minister Zayid bin Rashid Al Zayani here yesterday.

The Minister also revealed that non-oil trade exchange with other countries hit BD8.2bn last year, while exports were estimated at around BD3.5bn.

“The main exporting destinations last year were Saudi Arabia, the UAE and the Unites States, while we imported the most from China, the US and the UAE. Most imported commodities were automobiles and their spare parts, aluminium oxide, equipment and machinery. Exports were mainly aluminium products, iron and steel products, petrochemicals, iron ores, garments and textiles,” Al Zayani said.

Divulging the latest investment figures, the Minister said, “In 2015, local and foreign investments increased by BD271 million in comparison with the previous year.”

Statistics also showed that more than 80,000 establishments with accumulated capitals of more than BD21.6bn exist in the country, out of which more than 9, 000 companies were newly registered.

Al Zayani said that Preliminary approval was granted to 204 new industrial projects that are expected to create 2,000 jobs, including 451 jobs for Bahrainis.

The Minister added that commercial establishments increased by 900 new companies in 2015, with an approximate increase of 6 per cent.