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Bahrain's economy registers growth in Q1

Manama, July 2, 2014

Bahrain's real economic growth increased to 3.1 per cent in fixed prices and 1.4 per cent at current prices in the first quarter of the year, compared with the same period in 2013, a report said.

The oil sector grew by 4.1 per cent at constant prices but dropped 0.7 per cent at current prices, while non-oil sector increased by approximately 2.9 per cent and 2.1 per cent at constant and current prices respectively, according to preliminary findings by the Central Informatics Organisation's (CIO) general administration of statistics.

Financial projects also registered a growth rate of 1.9 per cent at constant prices and 1.5 per cent at current prices, CIO president Dr Mohammed Al Amer was quoted as saying in the Gulf Daily News, our sister publication.

Construction activity grew by 1.5 per cent at constant and current prices respectively, while real estate activity rose by about 3.1 per cent at constant prices and 4 per cent at current prices, he added.

The transportation and telecommunications sectors grew by 4.5 per cent (fixed prices) and 5.3 per cent (current prices), while manufacturing industries rose by 0.8 per cent (fixed prices) and 2.9 per cent (current prices).

The CIO periodical report also showed government-funded projects growing by 2.4 per cent at fixed prices and about 2.3 per cent at current prices.

Social and personal services soared by 6.5 per cent (fixed prices) and 7.7 per cent (current prices).

Electricity and water sector registered a 3.5 per cent growth rate at fixed prices and 3.8 per cent at current prices.

Educational services in government and private sectors grew by 4.7 per cent (fixed prices) and 5.3 per cent (current prices), while health services rose by 5.6 per cent at fixed prices and 5.3 per cent at current prices.

Agricultural and fishing activities increased by 1.1 per cent and 1.2 per cent at fixed and current prices respectively.

Dr Al Amer said that Bahrain's GDP grew by 0.1 per cent at fixed prices, but dropped by 3.2 per cent at current prices in the first quarter of the year compared with the fourth quarter of 2013.

The oil sector dropped by 7.6 per cent at constant prices and 10 per cent at current prices, while non-oil sector soared by 2.3 per cent at constant prices, but recorded a 0.7 per cent drop at current prices, Dr Al Amer said. – TradeArabia News Service




Tags: Bahrain | economy | CIO | Central Informatics |

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