Bahrain’s GDP grows 8.25pc
MANAMA: Bahrain’s economic growth rose to over eight per cent during the second quarter, shows the latest data from the Information and eGovernment Authority (iGA).
The latest quarterly report by the iGA shows that the national gross domestic product (GDP) in terms of current prices (nominal GDP) jumped by 8.25pc in the second quarter this year compared with the same quarter of the previous year.
The report shows that the Bahraini economy was able to maintain stability in a bid to reach a national economy which provides diversity, competitiveness and flexibility.
The non-oil sector beat expectations with 2.4pc growth in terms of constant prices (real GDP) when compared with the same quarter last year.
The oil sector recorded a surge of 40.23pc in terms of current prices as a result of rise in price of oil when compared with the second quarter of 2017.
In terms of constant prices, the oil sector saw a slight rise of 0.82pc.
Manufacturing activity during the quarter saw growth of 4.45pc at constant prices and 3.16pc at current prices due to increase in production and prices of major industrial commodities, compared with second quarter of 2017.
Construction activity grew by 6.65pc at constant prices and 7.42pc at current prices.
Real estate and business activities grew by 3.4pc at constant prices and 4.37pc at current prices, whereas transportation and telecommunication decreased by 0.18pc at constant prices and increased by 5.93pc at current prices.
The report shows that government services, excluding education and health, increased by 3.99pc at constant prices and 4.68pc at current prices, while social and personal services saw an increase of 1.84pc at constant prices and 1.9pc at current prices.
Electricity and water services have seen an increase of 3.92pc in constant prices and 11.88pc in current prices.
The report shows that private and government educational services rose by 3.46pc at constant prices and 2.89pc at current prices, whereas private and public health services grew by 4.78pc at constant prices and 6.48pc at current prices.
As for agriculture and fishing, an increase of 1.61pc in constant prices and 4.37pc in current prices was recorded in the quarter.
Source: http://www.gdnonline.com/Details/423807/Bahrain%E2%80%99s-GDP-grows-825pc
