TDT | Manama The Daily Tribune – www.newsofbahrain.com Bahrain's real estate sector has seen a remarkable 37% surge in Saudi ownership between 2019 and 2024. This increase underscores a growing domestic interest in property investments within the Kingdom. However, this enth
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
Bahrain’s real estate sector has seen a remarkable 37% surge in Saudi ownership between 2019 and 2024.
This increase underscores a growing domestic interest in property investments within the Kingdom. However, this enthusiasm hasn't been mirrored in other sectors, with joint stock companies and higher education institutions experiencing a 25% and 28% decline, respectively.
These findings were revealed in a recent report coinciding with the launch of a representative office for the Saudi-Bahraini Investment Company.
The report also highlighted the robust trade relationship between Saudi Arabia and Bahrain, with the former being Bahrain's fifth largest import partner and top export partner.
In 2023, the trade volume between the two nations reached an impressive $3.9 billion.
Despite a slight 2% dip in trade volume between 2019 and 2020, the economic exchange between Saudi Arabia and Bahrain rebounded strongly, increasing by 19% from $2.9 billion in 2020 to $3.4 billion in 2021.
Over the past five years, Saudi imports to Bahrain grew by 5%, from $927 million in 2019 to $976 million in 2023, while Bahraini exports to Saudi Arabia soared by 44%.
In 2023, unwrought aluminum (not alloyed) topped Bahrain's imports from Saudi Arabia, valued at $77 million—a staggering 809% increase from the previous year and comprising 8% of total imports.
Other significant imports included aluminum oxide and refined sugar crystals, which saw substantial growth.
On the export front, Bahrain's major commodity to Saudi Arabia was agglomerated iron ores and concentrates, valued at $538 million and accounting for 18% of total exports in 2023.
Other key exports included unwrought aluminum alloys and semi-finished iron and steel, which also saw notable increases.
Untapped export potential
There remains significant untapped export potential between Bahrain and Saudi Arabia.
Leading the list is non-alloyed aluminum wire with an export gap of $92 million, followed by bridges and bridge-sections with a gap of $88 million.
Processed cheese also shows promise, with an untapped potential of $55 million.
As both nations continue to strengthen their economic ties, these figures highlight the dynamic and evolving trade landscape, offering opportunities for further growth and collaboration.
