Minister: Trade deficit reduced by 41.1%; exports increased by 46.7%

Manama, May 31 (BNA): Minister of Industry, Commerce, and Tourism, Zayed bin Rashid Al-Zayani, today provided an update on the continued strength of the Bahraini economy, noting a number of positive economic indicators during the first quarter of 2019 and highlighting Bahrain’s strong commercial fundamentals. In this regard, the minister announced that the volume of exports increased by 46.7% during Q1 2019 compared to the same period in 2018, while imports increased by 21.9%. The Kingdom’s trade deficit has been reduced by 41.1% year on year, he added. The minister went on to note that Bahrain successfully hosted a variety of activities and events attracting an increasing number of visitors, which significantly expanded economic activity in the tourism sector, increasing the sector’s contribution to the Kingdom’s overall GDP. Al-Zayani added that Bahrain’s All Share Index increased by 5.7% during the first quarter of 2019, and with that, the market capitalisation of the Bahrain Bourse increased by 7.2% compared to the year before, delivering strong returns for investors in the Kingdom’s robust and diverse stock market. The minister stated that, ‘The Kingdom’s encouraging Q1 2019 economic indicators further demonstrate the strength of Bahrain’s economy, not only in the trade, tourism and industrial sectors but across all sectors’