Muscat: December 16, 2024

In celebration of the 53rd National Day of the Kingdom of Bahrain, the Statistical Center of the Cooperation Council for the Arab States of the Gulf praised the blessed efforts achieved during the 53-year journey of renaissance and progress, reviewing the most important statistics in many diverse economic, social and international competitive fields.
Bahrain has continued during the past years important stages of development and development work, which are based on building a prosperous and sustainable economic structure, benefiting from the opportunities and components that it abounds with, which led to strengthening its position to be among the most advanced countries in the world and within the highest levels of development in line with the ambitions of its wise leadership.

Continuous economic growth and an increase in the percentage of GDP at current prices to 13.9%
The Kingdom of Bahrain witnessed remarkable economic growth and embodied the Kingdom of Bahrain’s Economic Vision 2030 towards an integrated plan aimed at developing the Kingdom’s economy and improving the living standards of all citizens, as the GDP at current prices amounted to about 46.1 billion US dollars in 2023, compared to 40.4 billion US dollars in 2019, an increase of 13.9%. The government’s strategy also sought to diversify sources of income and economic diversification, as the added value of manufacturing activities at current prices amounted to about 9.5 billion US dollars in 2023 compared to 6.9 billion US dollars in 2019, an increase of 38.3%, while the added value of financial and insurance activities at current prices amounted to about 7.3 billion US dollars in 2023 compared to 6.1 billion US dollars in 2019, an increase of 18.8%, which reflects the Kingdom’s clear direction to drive the wheel of progress and sustainable growth of the Kingdom of Bahrain’s economy, which places it among the most diversified economies.
$46.7 billion is the value of the volume of commodity trade

The value of the volume of commodity trade reached $46.7 billion in 2023, compared to $36.7 billion in 2019, an increase of 27.1%, and total commodity exports witnessed an increase of $24.8 billion in 2023, compared to $18.1 billion in 2019, a growth rate of 37.0%. The Kingdom of Bahrain also sought to activate the contribution of its non-oil national exports to the national economy, as the value of non-oil national commodity exports reached about $10.4 billion in 2023, compared to $6.1 billion in 2019, with a growth rate of 70.4%.
Banks’ foreign reserve assets rise to $4.8 billion.

Commercial banks in the Kingdom continued to strengthen their financial assets and foreign reserves, with total assets of commercial banks reaching approximately $107.1 billion in 2023, compared to $101.7 billion in 2022, with a growth rate of 5.3%. Total foreign reserve assets also reached approximately $4.8 billion in 2023, compared to $4.5 billion in 2022, with a growth rate of 6.8%. Bank reserves contributed to an increase in the value of local loans to reach $31.3 billion in 2023, compared to $30.0 billion in 2022, recording a growth rate of 4.3%. These figures reflect the stability and continuous expansion of the Bahraini banking sector, and its role in supporting local economic activity. Significant increase in the growth rate of the tourism sector between 2022 and 2023.

The tourism sector in the Kingdom of Bahrain has received great attention within the Kingdom’s vision and national strategy, in diversifying sources of income and supporting the economy. Thanks to the support of the leadership and the efforts of the wise government, the tourism sector has been able to achieve positive indicators, as the total number of incoming tourists reached about 5.6 million tourists in 2023 compared to 3.7 million tourists in 2022, with a growth rate of 49.7%. This increase was accompanied by a growth in the volume of spending by incoming tourists to reach about 5.1 billion US dollars in 2023, with an increase rate of 32.1% compared to 2022. These figures also reflect the Kingdom of Bahrain’s progress in raising the contribution of the tourism sector to the national economy. The Kingdom of Bahrain tops many international and regional indicators.

In the field of global competitiveness, the Kingdom of Bahrain has achieved advanced positions in several reports, which reflect the distinguished efforts and policies adopted by the government, as it achieved first place globally in the e-commerce legislation index according to the Network Readiness Index for 2024, and first globally in the Internet users index according to the Global Digital Competitiveness Ranking Report for 2024, and also ranked first globally in the Technology Employment Index according to the e-Government Survey Report for 2024.

The Statistical Center of the Cooperation Council for the Arab States of the Gulf wishes the Kingdom of Bahrain and its generous people further development and advancement and the continuation of the path of achievement and development under the wise leadership of His Majesty King Hamad bin Isa Al Khalifa – may God protect him and preserve him –
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