The country’s non-oil sector grew by 6.2 per cent in 2022, the highest growth rate recorded over the past ten years
The country’s GDP crossed the $1tn mark for the first time in 2022 as higher oil prices boosted government revenues
Non-oil sectors contributed 50.3 per cent to the GDP, with an increase of Dhs39bn compared to the same period in 2021 to reach Dhs417.3bn in total by the end of Q3 2022
The rise in GDP growth in 2022 is supported by increased oil production, high oil prices, and sustained improvement in domestic demand
The review expected the non-oil GDP to grow by 6.1 per cent in 2022, against 4.3 per cent previously, with the oil GDP to expectedly grow by 11 per cent this year
The emirate hosted 10.12 million international visitors from January through September 2022, compared to 3.85 million welcomed during the same period last year
Oil activities in the third quarter increased 14.2 per cent year-on-year
Domestically, real non-oil GDP growth expanded by 5.9 per cent, following six consecutive quarters of growth
The new corporate identity underpins future growth plans for the airports operator
GDP overall grew a revised 12.2 per cent from a year earlier, the fastest since 2011
The non-oil contribution to the country’s GDP in 2020 stood at 71.3 per cent
Its GDP reached Dhs1.489tn at current prices, with the growth rate for 2021 reported to be the highest in the region
Non-oil activities contributed 49.7 per cent of the GDP at constant prices last year
The bank’s strategy involved direct and indirect financing of 1,350 SMEs across priority sectors
The kingdom’s real GDP grew by 6.7 per cent in the fourth quarter of 2021
Officials expect the economy to expand 2.9 per cent this year and grow by a further 7.4 per cent in 2022
The strategy seeks to increase the contribution of tourism to Bahrain’s GDP to reach 11.4 per cent in 2026
The fund raised its economic growth projection for MENA to 4.1 per cent this year from an earlier estimate of 4 per cent
The recently announced Operation 300bn strategy is set to be a game changer in transforming the nation’s manufacturing sector, opines Nidal Haddad, founder and CEO, Al Bayader International
The ratings agency expects the Saudi budget deficit to narrow to 3.3 per cent of GDP this year
Unemployment among Saudi nationals hit a record high of 15.4 per cent last year
The new plan comes after the coronavirus pandemic and oil market turmoil created a double crisis for Saudi Arabia
Saudi Arabia was hit hard last year as a drop in crude prices decimated government revenue while measures to stop the spread of the coronavirus limited economic activity
The economic consequences of the Covid-19 pandemic have been severe for all countries around the world
The dual shock of lower Brent prices and the coronavirus pandemic this year has taken an especially heavy toll on the region
Besides signing a bridge loan for OMR770m and issuing OMR550m in development bonds this year, Oman has also been tapping its reserves and privatising some assets
The digital economy’s contribution to the UAE’s local GDP in 2019 reached 4.3 per cent
The country expects the tourism industry to contribute more than 10 per cent of its annual GDP and create more than 1 million jobs by 2030
The county is estimated to post a GDP growth rate of six per cent in 2012, according to a study by Kuwait Finance House.