Finance and National Economy Ministry releases 2021 indicators

Manama, Feb. 8 (BNA): The Ministry of Finance and National Economy has released a summary of the performance of a number of economic indicators monitored periodically during the year 2021 compared to the previous year, The indices reveal the continued recovery of a number of economic sectors and an improvement in most of the indicators monitored for the year 2021. Some indicators have even surpassed the pre-pandemic levels. In the real 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%. With regard to 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 to 75 BD in 2021, up from 67.7 BD 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 BD 4.7 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 dinars, and the total value of non-commercial imports amounted to BD4 billion. The oil sector reached about BD5.3 billion Bahrainis, achieving a growth of 10.8%. The trade balance of non-oil goods recorded a clear improvement during 2021, as the trade gap decreased by 62.9% from BD 1.7 billion in 2020 to BD 0.6 billion in 2021. On the other hand, the value of both exports and imports exceeded the pre pandemic levels, as the value of exports increased by 73.8%, and the value of imports witnessed a growth of 6.7% compared to 2019.