Bahrain clocks 2.73pc growth in first quarter
The Information and eGovernment Authority (iGA) published the Kingdom’s provisional National Accounts Statistics Report for the first quarter (Q1) of 2019, with preliminary results indicating that Bahrain’s economy grew by 2.73 percent at constant prices and 3.43pc at current prices compared to the same period in 2018.
The National Accounts’ further indicate that the growth of the real gross domestic product (GDP) for the non-oil sector recorded 1.52pc in Q1 2019 compared to the same period in 2018, while the oil sector real GDP grew by 9.2pc. The hotels and restaurants sector sustained strong growth rates of 7.08pc at current prices and 8pc at constant prices during the first quarter. In addition, the financial sector grew by 3.41pc at current prices and 3.52pc at constant prices, whereas the construction sector witnessed a growth of 4.65pc at current prices and 2.86pc at constant prices.
Additionally, the report showed notable year-on-year improvements, in real terms, in Q1 2019 in various sectors: 1.27pc in the real estate and business activities sector, 1.33pc in the trade sector, 1.49pc in the transport and communication, 1.08pc in the social and personal services sector, 2.09pc in the private educational services sector and 0.22pc in the private health services sector.