Bahrain’s key economic sectors register growth
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
Several economic sectors in Bahrain continue to recover, and some have even surpassed the pre-pandemic levels.
This was based on the Ministry of Finance and National Economy’s summary report on the performance of several economic indicators monitored periodically during the year 2021 compared to the previous year.
The indices reveal an improvement in most of the indicators monitored last year.
In the real estate sector, the number of building permits soared by 21.4%, while the construction area for issued permits jumped by 55.8%.
In addition, the number of real estate transactions registered with the Survey and Land Registration Authority increased by 29%.
Concerning the hospitality sector, the growth rate of the total incoming tourism revenues amounted to 161%, and the number of tourist nights witnessed a growth of 179% during 2021.
This was reflected in the occupancy rate of hotels (4 and 5 stars), which rose by 60.7%, and the average spending also increased.
The daily visitor spending stood at BD75 in 2021, up from BD67.7 in 2020.
The trade sector showed an increase in the number of new commercial registers for companies in 2021 by 38.7%, as well as new commercial registers for individuals by 7.8%.
The value of sales at points of sale for ATM cards issued in Bahrain increased by 17.1%, and the movement of incoming and outgoing trucks across the King Fahd Causeway increased by 6.9%.
In terms of foreign trade, the total value of non-oil exports during the year 2021 amounted to about BD4.7 billion, registering an increase of 52.6% compared to the year 2020.
The value of national-origin exports increased by 67.3% to reach BD4 billion, and the total value of non-commercial imports amounted to BD4 billion.
The oil sector reached about BD5.3 billion, achieving a growth of 10.8%.
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