Bahraini economy achieves growth of 2.45 per cent in third quarter of 2023

National accounts estimates issued by the Information eGovernment Authority of the Kingdom of Bahrain showed that the real GDP of the Kingdom increased by 2.45 per cent at constant prices and by 1.09 per cent at current prices during the third quarter of 2023 compared to the same period in 2022.

Bahrain News Agency (BNA) quoted the Authority as saying that the growth according to the detailed report is due to the increase achieved by the non-oil sector by 4.48 per cent at constant prices and 4.81 per cent at current prices on an annual basis, as the GDP at constant prices reached BD 3,387.82 million during the third quarter of 2023 compared to BD 3,306.71 million during the same period of 2022.

The report pointed out that financial corporations are one of the largest non-oil sectors contributing to the real GDP by 18.08 per cent, followed by the manufacturing industry by 13.85 per cent.

On an annual basis, the highest non-oil sectors grew according to preliminary estimates of the national accounts, the hotel and restaurants activity with a growth rate of 9.36 per cent, followed by financial corporations with a growth rate of 8.36 per cent at constant prices