BMA launches new publication on economic, social indicators

Economic Indicators, being issued by BMA's Economic Research Directorate, provides detailed statistics on such indicators as population and employment; output; public finance and domestic debt; prices, including consumer price index, and interest rates; trade; money supply and banking; capital market; insurance sector; travel and tourism; transportation and communication; education; commercial licensing and construction and real estate.

"Economic Indicators is a valuable set of up-to-date and leading indicators that reflect economic performance," said Dr Abdul Rahman Saif, Executive Director, Corporate Services, at the BMA.

"The publication is in keeping with the vision of the Kingdom's leadership in promoting a more transparent society. It is also in line with BMA's policy of facilitating the dissemination of information."

It is targeted at investors, policy makers, programme developers, academics and researchers, and the media, among others.

This publication is the product of joint cooperation between the BMA and many different authorities in Bahrain, he said.

"I would like to thank the various Ministries, Government organisations and private entities for their assistance in providing statistics for this important publication," said Dr Saif.

"We plan to build further on this initial effort and include other indicators in the future."

Trade figures, which appear in Economic Indicators, show that Bahrain continues to maintain a favourable balance of trade, with total exports amounting to BD1.76 billion (US$4.6 billion) during the first three quarters of 2003, while total imports amounted to BD1.46 billion (US$3.8 billion).

New commercial licences issued for carrying out various business activities totaled 3,287 during the first three quarters of 2003, compared with 3,553 during the whole of 2002.

Bahrain's tourism industry also continues to do well, with a total of 3.6 million arrivals recorded for the first three quarters of 2003, compared with 4.8 million arrivals during 2002.

Population and employment statistics show that nearly 29.3% of Bahrain's population was employed in 2002, up from 25.7% five years ago.

The statistics show that 196,894 people were employed in 2002, compared with 155,196 in 1998. Of the employed people, 83.6% were employed by the private sector in 2002, compared with 80% in 1998.

Monthly wages of male workers in the public sector averaged BD450 in 2002, an increase of 6.9% over the 1998 figure of BD421, while average monthly wages of female workers in the public sector grew 5.4% to BD471 in 2002, from BD447 in 1998.

Average monthly wages of male workers in the private sector declined 4.8% to BD239 in 2002, compared with BD251 in 1998, while those of female workers declined 14% to BD225 in 2002, from BD262 in 1998.

In the area of construction and real estate development, figures reveal that construction activity is at a five-year high and is most intense in the Northern District, followed by the Central District and Muharraq.

"Economic Indicators is a valuable addition to BMA's publications programme and is the Agency's third regular publication, along with the BMA Annual Report and the Quarterly Statistical Bulletin," said Mr. Ahmed Jassim Bumtaia, Director, Economic Research, at the BMA.

The BMA will distribute it to a number of institutions and organisations. Copies may also be obtained from the Economic Research Directorate.