Bahrain GDP Grows

Bahrain’s gross domestic product (GDP) in the current prices grew by 5.1 % during the first quarter (Q1) of the year as compared to the same quarter of 2017, the Information & eGovernment Authority (iGA) said in a new report.

Meanwhile, Bahrain non-oil sector beat expectations with 3.4 % and 1.9 % respectively, at constant and current prices, added the first quarter GDP report of 2018.

However, GDP has reduced in the constant prices by 1.2 % comparing to the same quarter of last year.

The oil sector recorded an increase of 17.3 % in the current prices as a result in raising oil barrels in comparison to first quarter of 2017. While constant prices in the oil sector decreased by 14.7 % due to reduction in amounts of oil production by 5.8 % comparing to the fourth quarter of 2017.

The establishment of a new oil marine pipeline - that links between Bahrain’s refinery and the Saudi Aramco during the current year - is expected to increase in oil production in the coming period.

The report has also shown that the manufacturing activity has grown by 4.2 % at constant prices and 4.6 % in current prices due to increase in value of production of major industrial commodities in Bahrain, compared to first quarter of 2017.

Construction activity grew by 6.7 % at constant prices and 7.2 % at current prices. Real-estate and business activities grew by 3.7 % at constant prices and 3.8 % at current prices. While the transportation and telecommunication activity decreased by 0.8 % at constant prices and increased by 8.6 % at current prices.

The report indicated that other government services increased by 3.8 % at constant prices and 3.4 % at current prices; social and personal services also witnessed an increase by 3.4 % at constant prices and 3.8 % at current prices. Additionally, electricity and water activity have witnessed an increase by 1.6 % in constant prices and 7.4 % in current prices.

The report indicates that private and government educational services rose by 4.8 % at constant prices and 5.3 % at current prices; health services also increased by 6.5 % at constant prices and 7.5 % at current prices. As for agricultural activity and fishing, it also increased by 7.3 % in constant prices and 8.9 % in current prices.

Comparing the first quarter of 2018 to the fourth quarter of 2017, results have shown an economic decline of 0.5 % at constant prices and 3 % at current prices. Whereas the oil sector decreased by nearly 6.6 % at constant prices and an increase in the current prices of 12 %. The non-oil sector increased by 0.8 % and 1.6 %, respectively, at constant and current prices.

According to the report, the financial corporations have witnessed a decrease of 0.7 % in constant prices and 0.9 % in current prices. The construction and telecommunication activity grew by 2 % at constant prices and 3.1 % at current prices. The added-value of the transportations sector had increased by 0.8 % growth in constant prices and 0.9 % in current prices. Results also show manufacturing industry achieved growth of 2 % in constant prices and 2.7 % in current prices.

The report indicated that government services increased by 1.1 % at constant prices and 1.9 % at current prices; social and personal services decreased by 4.5 % at constant prices and 1.8 % at current prices. Electricity and water activities decreased by 0.3 % at constant prices and grew by 0.9 % at current prices.

Government and private education services have also shown a rise of 1 % in constant prices and 1.5 % in current prices. In addition, government and private health services increased by 0.5 % at constant prices and 2.3 % at current prices. Agriculture and fishing activities raised by 2.8 % at constant prices and 4.2 % at current prices.