19 Days
Source:
البلاد
Bahrain's new exports beyond oil
The article focused on the development and diversification of Bahrain's service exports over the past decade, noting a significant increase in their value from approximately $9.11 billion in 2015 to $17.03 billion in 2024. The concentration index declined from 0.343 to 0.247 on the Herfindahl-Hirschman Index, reflecting an expansion of the sectoral base. Additionally, the non-oil sector is projected to account for about 90% of the GDP by 2030, relying on industries such as tourism, transportation, and digital services, rather than solely on financial services. Despite this success, public finances still face challenges, with the fiscal deficit remaining high at 11% of GDP and government debt rising to 134%, highlighting the need to transform the non-oil recovery into sustainable fiscal revenues to bolster economic stability.
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