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Business Confidence Index for Q1 2023 – Announced

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The Business Confidence Index (BCI) of the Kingdom of Bahrain has indicated that 94.01% of investors expect the stability of the business and economic environment during the first quarter of 2023, recording a lower rate of 1.66% compared to the previous quarter. This was showcased in the Business Confidence survey conducted by the Economic Statistics Directorate at Information & eGovernment Authority (iGA). The survey results have shown also that 49.35% of the companies expect stability in their business performance while 44.66% expected improvement in business performance.

The Business Confidence Index (BCI) has shown an overall increase to achieve 103.84 points in Q1 of 2023 compared to 101.99 points registered in Q4 of 2022, which reflects an increase of 1.85 points or 1.81% compared to the previous quarter.  On the side, BCI has shown a rise of 8.38 points compared to the same period of 2022.

The survey revealed that 87.81% of the businesses experienced a range of economic stability to optimistic performance during Q1 of 2023, i.e. 57.14% of the businesses revealed stability in their performance, while 30.67% experienced satisfactory performance. On the other side, 12.19% of the sample has shown dissatisfaction with their business performance during Q1 of 2023.

Business Confidence Indices are measured using based on surveys carried out by iGA on a sample of the business community covering micro, small, and medium enterprises as well as large enterprises. The range includes businesses that are classified as foreign and local investments with large capitals and those which include foreign shareholders (as registered in their records). The survey’s scope covers all active establishments registered at the Ministry of Industry, Commerce (MOIC), as well as enterprises licensed by the Central Bank of Bahrain (CBB).

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BCI survey aims to provide investors, economic decision, and policymakers with essential information and insight that help them to take key decisions and take necessary actions. BCI also fosters a business environment that attracts investments and reinforces competitiveness and business development through the availability of clear information on business confidence levels and other information related to business size, sector, investment type, etc…

For more information or details on current surveys, please visit the Bahrain Open Data Portal, data.gov.bh.

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