Economic indicators perform better than pre-pandemic 2019 benchmarks
The Ministry of Finance and National Economy has released a summary of the performance of a number of quarterly economic indicators.
Most of the indicators performed better than pre-pandemic 2019 benchmarks.
These positive economic signs have arisen following the launch of the Economic Recovery Plan, as well as following a number of initiatives and strategies to develop the economy and create quality job opportunities for citizens.
Impressive economic growth was achieved during the first quarter of 2022. In the tourism and hospitality sector, the average hotel occupancy rate in four and five-stars hotels increased by 55% and the number of mall visitors increased by 26.9%.
In the commerce sector, new commercial licenses increased by 35.4%, and the value of sales for Bahrain ATM cards increased by 4.2%. In international trade the total value of exports reached 64.7%.
In the financial services sector, remarkable growth was achieved in February. Fawri+ transactions grew by 55.1% and Fawri transactions increased by 22.1%. Similarly, total non-bank deposits grew by 12.7% and the Bahrain Bourse index witnessed a 33.3% increase.
In the real estate sector, transactions registered with the Survey and Land Registration Bureau increased by 19.6% while the number of building permits increased by 15.8%. Additionally, total fuel sales increased by 12.2%.
