Bahrain's real GDP up 2.4pc in Q3 on non-oil growth: Report

Bahrain's real gross domestic product (GDP) grew by 2.45% at constant prices and by 1.09% at current prices during the third quarter of 2023 compared to the same period last year, as per national accounts estimates issued by the Information & eGovernment Authority (iGA). 

This growth was mainly driven by the performance of the non-oil sector which grew by 4.48% at constant prices and 4.81% at current prices on an annual basis, said iGA in its report.

The GDP at constant prices surged to BD3.4 billion ($8.96 billion) during the third quarter when compared to the last year's figure of BD3.3 billion ($8.7 billion).

According to iGA, the financial corporations were one of the largest non-oil sectors contributing to the real GDP in Q3 by 18.08%, followed by the manufacturing with 13.85% contribution. 

On an annual basis, the highest non-oil sectors growth came from the hotel and restaurants activity with a figure of 9.36%, followed by financial corporations with a growth rate of 8.36% at constant prices, it added.-TradeArabia News Service

Source: https://www.tradearabia.com/news/BANK_417163.html