Bahrain key economic sectors are on the rise

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Financial projects in Bahrain grew by 9.40% at constant prices and by 10.72% at current prices, according to the Ministry of Finance and National Economy quarterly economic report for the second quarter of 2021. As per report, health services recorded an increase of 8.59% at constant prices and 7.21% at current prices.

The agriculture and fishing activity increased by about 5.57% at constant prices and 2.34% at current prices. Real estate and business services increased by 4.73% at constant prices and 3.02% at current prices. Trade grew by 4.17% and 2.66% at constant and current prices, respectively. Other government services increased by about 3.34% at constant prices and 2.20% at current prices, respectively.

Manufacturing increased by 2.29% at constant prices and 24.21% at current prices. Meanwhile, electricity and water as well as construction have also grown in varying proportions.

Electricity and water activity and construction increased by 2.80% and 1.06% at constant and ongoing prices, respectively, and construction activity by 0.22% and 7.18% respectively When comparing the economic performance for the second quarter of 2021 compared to the first quarter of the same year, economic growth recorded real growth of 3.51% and 6.37% at current prices.

The results also showed that the oil sector increased by 7.76% at constant prices and 18.94% at current prices, while the nonoil sector achieved an increase of 2.58% and 4.39% at constant and current prices, respectively.

The report also revealed growth rates at constant and current prices for almost all the economic activities in the second quarter of 2021 compared to the first quarter.

Educational services increased by 20.94% and 21.61% at constant and current prices, respectively, followed by electricity and water activity of 13.92% at constant prices and 7.58% at current prices. Mining and quarrying sector increased by 7.55% and 17.98% at constant and current prices, respectively