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Bahrain Central Bank Expects Real GDP to Grow 3.1% in 2021

The Central Bank of Bahrain is seen in Manama, Oct. 27, 2013. (Reuters)
The Central Bank of Bahrain is seen in Manama, Oct. 27, 2013. (Reuters)
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Bahrain Central Bank Expects Real GDP to Grow 3.1% in 2021

The Central Bank of Bahrain is seen in Manama, Oct. 27, 2013. (Reuters)
The Central Bank of Bahrain is seen in Manama, Oct. 27, 2013. (Reuters)

Bahrain's Central Bank Governor, Rasheed Mohammed al-Maraj, said in an interview published on Sunday he expects the real gross domestic product to grow 3.1 percent in 2021.

Bahrain's annual real GDP growth reached 5.7 percent in the second quarter of 2021, pushed by the growth in the non-oil sector resulting from the recovery of the sectors most damaged by the coronavirus pandemic such as transportation and tourism.

The GDP is expected to continue to grow in the third and fourth quarters of 2021, Maraj said.

He noted that international bond issues denominated in US dollars were made with an amount of $4.5 billion during 2021. International bonds worth $1.475 billion were due during the same year.

The governor told local newspaper Albilad that foreign reserves increased to 1.63 billion dinars in September, and they were expected to keep growing because of the expected increase in revenues due to higher oil prices.

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Port of NEOM Strengthens Role in Global Supply Chain Connectivity

By empowering Saudi workers with high-tech skills, Port of NEOM is supporting NEOM’s vision of being a catalyst for a sustainable, diverse, and innovative ecosystem that enables regional economic resilience and advances the goals of Saudi Vision 2030 - SPA
By empowering Saudi workers with high-tech skills, Port of NEOM is supporting NEOM’s vision of being a catalyst for a sustainable, diverse, and innovative ecosystem that enables regional economic resilience and advances the goals of Saudi Vision 2030 - SPA
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Port of NEOM Strengthens Role in Global Supply Chain Connectivity

By empowering Saudi workers with high-tech skills, Port of NEOM is supporting NEOM’s vision of being a catalyst for a sustainable, diverse, and innovative ecosystem that enables regional economic resilience and advances the goals of Saudi Vision 2030 - SPA
By empowering Saudi workers with high-tech skills, Port of NEOM is supporting NEOM’s vision of being a catalyst for a sustainable, diverse, and innovative ecosystem that enables regional economic resilience and advances the goals of Saudi Vision 2030 - SPA

Port of NEOM has marked a major milestone with the arrival of the first fully automated, remote-controlled Ship-To-Shore (STS) and Electric Rubber-Tyred Gantry (eRTG) cranes in the Kingdom, advancing its goal to become a global hub for smart, sustainable trade, SPA reported.

Strategically located on the Red Sea, Port of NEOM is already serving as a critical gateway on the East-West trade route. The newly arrived state-of-the-art cranes will play a critical role in the port’s automation strategy, unlocking the potential for high-volume, high-efficiency operations.

Development of Port of NEOM continues at a pace ahead of the 2026 opening of Terminal 1, a next-generation container terminal, with recent infrastructure milestones including the completion of a 900-meter quay wall and the deepening of the port channel to 18.5 meters—enabling the world’s largest vessels transiting the Suez Canal to call at Port of NEOM.

Terminal 1 will also feature horizontal transport automation as part of its broader goal to achieve full automation. Once operational, these technologies will significantly expand the port’s logistics capacity, driving regional industrial growth, opening access to global markets, enhancing supply chain resilience, and unlocking business opportunities.

Port of NEOM Managing Director Sean Kelly said: “The arrival of our first automated cranes marks a tangible milestone as we lay the foundations for an advanced, future-ready port. We are not only accelerating industrial growth in northwest Saudi Arabia, but we are also setting a new benchmark for performance, efficiency, innovation and establishing a vital trade gateway for the Kingdom and the region beyond.”

In parallel with its investments in infrastructure and automation, Port of NEOM is also committed to developing local talent, including training Saudi women to take on high-tech roles. Central to this effort is a pioneering initiative to train the next generation of production specialists in remote crane operation skills, thereby helping to shape a more inclusive future for the logistics and industrial sectors.

By empowering Saudi workers with high-tech skills, Port of NEOM is supporting NEOM’s vision of being a catalyst for a sustainable, diverse, and innovative ecosystem that enables regional economic resilience and advances the goals of Saudi Vision 2030.