Manama, January 6 (BNA) National accounts estimates issued by the Information and e-Government Authority showed that the Kingdom of Bahrain’s GDP grew at 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 the outcome of the increase achieved by the non-oil sector by 3.76% in real prices and 5.94% at current prices, supported by the activity of transport and communications, which showed an improvement in its economic performance, as it grew by 25.78% in real prices and 14.69% in current prices than The third quarter of last year.
The oil sector declined by 4.63% in 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% at real and current prices, respectively.
The results showed an increase in government and private health services by 9.13% at real prices and 6.39% at current prices. Prices of real estate and business services increased by 4.67% in real prices and 2.58% in current prices.
As for commercial activity, it grew by 4.48% and 3.45% at real and current prices, respectively. Electricity and water prices increased by 4.36% at real prices, while they decreased by 1.76% at current prices.
Manufacturing grew by 15.62% at current prices while it slightly decreased in real prices by 0.26%. Construction recorded a rise of 0.75% at real prices and 2.55% at current prices.
Government and private educational services increased by about 0.62% at real prices and 1.07% at current prices.
The national accounts report also revealed a decline in hotel and restaurant activity in the third quarter by 5.64% at real prices and 6.12% at current prices.
The mining and quarrying sector decreased by 4.12% at real prices and grew by 37.25% at current prices.
Similarly, financial projects decreased 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 slightly decreased in real prices by 0.05% and increased at current prices by 0.61%.
The results showed that the oil sector declined by 0.76% at 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 revealed a recovery in transportation, communications, hotels and restaurants, where transportation and communications recorded a real growth of 12.39% and 3.90% at current prices, and similarly hotels and restaurants increased by 11.16% and 9.79% at real and current prices, which reflects the recovery of the tourism sector in the Kingdom.
The report indicated that agriculture and fishing grew by 9.16% at real prices and 1.73% at current prices, while financial projects increased by 3.25% at real and current prices by 2.38%, respectively, followed by electricity and water activity by 2.44% at real prices and 0.12% at current prices. This brings the manufacturing ratio to 1.56% and 2.84% at real and current prices, respectively.
The report showed that government and private health services grew by 1.06% and 0.85% compared to the second quarter of the year. Construction also increased by 0.83% at real prices and 0.95% at current prices.
The report showed that real estate, commercial services, commercial activity and other social and personal services recovered in varying proportions if we compare the third quarter of the year with the previous quarter.
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