Bahrain records improvement in economic sector indicators

Bahrain’s Ministry of Finance and National Economy announced continued improvement in financial and economic indicators of various economic sectors during the first quarter of 2022, surpassing 2019 pre-pandemic benchmarks.

This improvement is part of the Kingdom’s launch of its economic recovery plan, which includes initiatives and strategies targeting several promising sectors at the service of citizens.

In the tourism and hospitality sector, the average occupancy rate for four- and five-star hotels was 55%, while the number of visitors to shopping centers increased by 26.9% compared to the same quarter. in 2021.

Another sign of the turnaround is the 35.4% increase in new business licenses in 2022, as is the value of sales using Bahrain’s ATM cards, which increased by 4.2%.

Remarkable growth was achieved in February in the financial services sector, with Fawri+ transactions increasing by 55.1% and Fawri transactions increasing by 22.1%.

In terms of international trade, the total value of exports amounted to 64.7% and total fuel sales increased by 12.2%.

Similarly, total non-bank deposits increased by 12.7% and the Bahrain Stock Exchange index rose by 33.3%.

In the real estate sector, transactions recorded at the Office of Cadastres and Cadastre increased by 19.6%, while the number of building permits increased by 15.8%.