08 July 2010
MANAMA - Bahrain achieved a 70 percent growth of overall local output in the last 10 years, an economic report said Thursday.
The report released by the state Economic Development Board (BEDB) said that this average represents a sustainable growth of overall development and is an improvement of the earlier six percent. Exports have risen to 116 percent, the report added.
The report - considered the first of its kind for the tiny Arab Gulf nation - added that in the same period Bahraini employment rose by 39 percent, with wages increasing by 54 percent.
Bahrain also achieved its highest foreign economic investment to nominal GDP among its six Gulf Cooperation Council peers by 35 percent inside 2005 and 2008.
For his part, Managing Director of BEDB Sheikh Mohammad bin Isa Al-Khalifa said in a press statement issued on Wednesday that the five years ending in 2008 recorded exceptional growth for Bahrain, in regards to the country's doubled output in the funding sector to over a quarter of the overall output.
He also indicated that the Bahraini economy is the most diverse in the Gulf region, whereby the country is classified by the World Bank as being among the world's top 20 in business activities.
MANAMA - Bahrain achieved a 70 percent growth of overall local output in the last 10 years, an economic report said Thursday.
The report released by the state Economic Development Board (BEDB) said that this average represents a sustainable growth of overall development and is an improvement of the earlier six percent. Exports have risen to 116 percent, the report added.
The report - considered the first of its kind for the tiny Arab Gulf nation - added that in the same period Bahraini employment rose by 39 percent, with wages increasing by 54 percent.
Bahrain also achieved its highest foreign economic investment to nominal GDP among its six Gulf Cooperation Council peers by 35 percent inside 2005 and 2008.
For his part, Managing Director of BEDB Sheikh Mohammad bin Isa Al-Khalifa said in a press statement issued on Wednesday that the five years ending in 2008 recorded exceptional growth for Bahrain, in regards to the country's doubled output in the funding sector to over a quarter of the overall output.
He also indicated that the Bahraini economy is the most diverse in the Gulf region, whereby the country is classified by the World Bank as being among the world's top 20 in business activities.
© KUNA (Kuwait News Agency) 2010
