Bahrain's economy grows by 2.09% at real prices and 10.19% at current prices compared to the same quarter of 2020
07 Jan 2022
Estimates of national accounts issued by the Information and E-Government Authority showed that Bahrain's GDP grew in real prices by 2.09% and 10.19% at current prices in the third quarter of 2021. The national accounts report shows that the growth is due to the rise achieved by the non-oil sector by 3.76% in real prices and 5.94% at current prices Supported by transportation and telecommunications activity, which showed an improvement in its economic performance, it grew by 25.78% in real prices and 14.69% at current prices from the third quarter of last year. The oil sector fell by 4.63% at real prices and increased by 39.95% at current prices compared to the same quarter of 2020.
According to the report, the recovery was clearly reflected in other social and personal services, which recorded real growth of 12.82% and 21.25% at current prices. Agriculture and fishing activity grew by 12.88% and 1.73% in real and current prices, respectively.
The results showed that government and private health services increased by 9.13% in real prices and 6.39% at current prices. Real estate and business services increased by 4.67% in real prices and 2.58% at current prices.
As for trade activity, it grew by 4.48% and 3.45% in real and current prices, respectively. Electricity and water increased by about 4.36% in real prices while declining by about 1.76% at current prices.
Manufacturing grew by 15.62% at current prices while falling slightly in real prices by 0.26%. Construction recorded a rise of 0.75% in real prices and 2.55% at current prices. Government and private educational services increased by about 0.62% in real prices and 1.07% at current prices.
The National Accounts Report also revealed that hotel and restaurant activity in the third quarter declined by 5.64% at real prices and 6.12% at current prices. Mining and quarrying fells by 4.12% at real prices and grew by 37.25% at current prices. Similarly, financial projects declined by 2.65% and 4.34% in real and current prices, respectively.
When comparing the economic performance for the third quarter of 2021 compared to the second quarter of the same year, economic growth decreased slightly in real prices by 0.05% and increased at current prices by 0.61%. The results showed that the oil sector fell by 0.76% in real prices while it grew by 7.20% at current prices, and the non-oil sector achieved an increase of 0.11% and decreased by 0.55% at real and current prices respectively.
The report also exposed the recovery in transportation & telecommunications and hotels & restaurants, where transportation and communications recorded real growth of 12.39% and 3.90% at current prices and similarly hotels and restaurants increased by 11.16% and 9.79% in real and current prices, reflecting the recovery of the tourism sector in the Kingdom.
The report noted the growth of agriculture and fishing by 9.16% at real prices and 1.73% at current prices, while financial projects increased by 3.25% and 2.38% in real and current prices, respectively, followed by electricity and water activity by 2.44% in real prices and 0.12% at current prices. Thus, manufacturing is 1.56% and 2.84% in real and current prices, respectively.
The report showed that government & Private health services grew by 1.06% and 0.85% compared to the second quarter of the year. Construction also increased by 0.83% in real prices and 0.95% at current prices.
The report showed that real estate, business services, business activity and other social and personal services recovered in varying proportions if we compared the third quarter of the year to the previous one.
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