Bahrain’s economy grows 2.09% in Q3 2021

The GDP of Bahrain grew by 2.09 percent in real terms and by 10.19 percent at current prices in the third quarter of 2021, estimates of national accounts issued by the Information and e-Government Authority (iGA) said. 

The national accounts report shows that the growth is the outcome of the rise achieved by the non-oil sector by 3.76 percent in real terms and 5.94 percent at current prices, supported by transportation and telecommunications activity.  

The oil sector fell by 4.63 percent in real terms and increased by 39.95 percent 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 percent and 21.25 percent at current prices. Agriculture and fishing activity grew by 12.88 percent and 1.73 percent in real and current prices, respectively.

The results showed that government and private health services increased by 9.13 percent in real terms and 6.39 percent at current prices. Real estate and business services increased by 4.67 percent in real prices and 2.58 percent at current prices.

As for trade activity, it grew by 4.48 percent and 3.45 percent in real and current prices, respectively. Electricity and water increased by about 4.36% in real terms while declining by about 1.76% at current prices.

Manufacturing grew by 15.62 percent at current prices while falling slightly in real terms by 0.26%. Construction recorded a rise of 0.75 percent in real prices and 2.55 percent at current prices. 

Government and private educational services increased by about 0.62 percent in real terms and 1.07 terms at current prices.

The National Accounts Report also revealed that hotel and restaurant activity in the third quarter declined by 5.64 percent at real prices and 6.12 percent at current prices.

Mining and quarrying fell by 4.12 percent at real prices and grew by 37.25 percent at current prices. 

Similarly, financial projects declined by 2.65 percent and 4.34 percent 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 terms by 0.05 percent and increased at current prices by 0.61 percent.  

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.