The export of Information and Communication Technology (ICT) services from Bahrain has seen significant growth over the past decade. In 2023, exports stood at 1569.8 million USD. Analyzing recent trends, exports grew by 11.37% from 2022 to 2023, following a substantial 42.21% increase from 2021 to 2022. Over the last five years, the Compound Annual Growth Rate (CAGR) averaged at 12.25%, with notable acceleration in recent years.
Moving forward, projected data suggests a continued upward trajectory, reaching approximately 2356.2 million USD by 2028, representing a 6.37% CAGR over the next five years. This growth trajectory indicates robust health and expansion in Bahrain's ICT sector.
Future trends to watch include:
- Emerging technologies such as AI and 5G influencing demand.
- Potential impacts of global economic conditions on exports.
- Government policies promoting digital transformation and innovation.
- Increased regional cooperation and partnerships in the ICT industry.
