The GDP Growth of Bahrain is 4.20% in Q3
- Publish date: Wednesday، 28 December 2022
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Estimates of national accounts released by the Information and eGovernment Authority (iGA) revealed that Bahrain's economy continued to grow at impressive rates in the current year.
While the Kingdom's GDP increased by 5.5% annually through the third quarter (January to September) at constant prices, the non-oil sector increased by 7.2% yearly through the same period in 2022. The third quarter of this year saw both the non-oil sector increase by 4.9% and the gross domestic product (GDP) record growth at constant prices of 4.20% on an annual basis.
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The report also compared the third quarter of 2022 to the third quarter of 2021 in terms of how the various economic sectors performed. The hotels and restaurants sector continued to record the highest growth rates. Among non-oil sectors, reaching an annual growth of 14.7% at constant prices. Following it were the transportation and communications sector, which saw an annual growth of 8.0%, and the real estate activities and business services sector, which also saw an annual growth of 6.8%. 5.9% at constant price growth is seen in the trading sector. 5.0% more manufacturing was produced. The government services industry experienced a 4.6% increase. At constant prices, the financial projects sector increased by 1.1% in the third quarter of 2022.
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