Bahrain's real GDP grew 2.09% in Q3 2021
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
Bahrain’s GDP grew by 2.09% in Real prices and 10.19% in Current prices in the third quarter of 2021, compared to a year ago. The National Accounts Report by the Information and eGovernment Authority attributed the positive growth to a 3.76% rise in the non-oil sector at Real prices and 5.94% in Current prices and activity in the transportation and communications sector.
The Transportation and Communications sector registered a growth of 25.78% in Real prices and 14.69% in current prices compared to the same quarter a year ago.
Oil sector
The Oil sector dropped by 4.63% in Real prices and increased by 39.95% in current prices compared to the same quarter of 2020.
According to the report, the social and other personal services sector showed solid recovery by recording a Real growth of 12.82% and 21.25% in current prices. The activity of agriculture and fishing grew by 12.88% and 1.73% in Real and current prices, respectively.
The public and private health services sector grew by 9.13% in Real prices and 6.39% in current prices. The real estate and business services sector achieved a growth of 4.67% in Real prices and 2.58% in current prices.
Bahrain’s trade activity grew by 4.48% and 3.45% in Real and current prices, respectively. On the other hand, Electricity and Water witnessed an increase of 4.36% in Real prices and a decrease of 1.76% in current prices.
The Manufacturing industries grew by 15.62% in current prices, while they decreased slightly in Real prices by 0.26%. The building and construction sector rose 0.75% in Real prices and 2.55% in current prices.
Public and private educational services increased by 0.62% in Real prices and 1.07% in current prices. The report also revealed a decline in hotel and restaurant activity in the third quarter - 5.64% at Real prices and 6.12% in current prices. Mining and quarrying activity decreased by 4.12% in Real prices and grew by 37.25% in current prices.
Financial projects in Bahrain recorded a decrease of 2.65% in Real prices and 4.34% in current prices.
Q3 vs Q2 2021
Sequentially, the report shows a slight decrease of 0.05% and an increase in current prices by 0.61%. The oil sector declined by 0.76% in Real prices, while it grew by 7.20% in current prices.
The non-oil sector rose by 0.11% in Real and decreased by 0.55% in current prices. The report also showed a recovery in the transportation and communications sectors, hotels and restaurants, where the transportation and communications activity recorded real growth of 12.39% and 3.90% in current prices.
Similarly, hotels and restaurants increased by 11.16% and 9.79% in Real and current prices, which reflects the recovery of the tourism sector in Bahrain. Agriculture and fishing grew by 9.16% in Real prices and 1.73% in current prices, while financial projects increased by 3.25% and 2.38% in Real and current prices, respectively.
The electricity and water sector grew by 2.44% in Real prices and 0.12% in current prices. The manufacturing industries rose 1.56% in Real prices and 2.84% in current prices. The growth of government and private health services at Real and current prices was 1.06% and 0.85% compared to the second quarter. Building and construction also recorded an increase of 0.83% in Real prices and 0.95% at current prices.
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