Bahrain's gross domestic product (GDP) grew by 5.54% at constant prices and 19.67% at current prices during the first quarter of 2022 over last year, according to the Information and E-Government Authority.

It was mainly driven by the growth in the non-oil sector which surged by 7.78% at constant prices supported by the recovery in the activity of hotels and restaurants, said the Authority, citing official estimates.

This showed an improvement in its economic performance, recording a growth of 26.57% at constant prices and 35.23% at current prices, stated the report.

The oil sector fell by 4.74% at constant prices and increased by 42.23% at current prices compared to the same quarter of 2021, it added.

The report showed that the growth results extended on other non-oil economic aspects, where the transportation and telecommunications sector grew by 15.77% at constant prices and by about 3.93% at current prices, electricity and water activity increased by 12.25% at constant prices, a slight decline of about 1.42% at current prices, and other government services grew by 9.72% at constant prices and 4.55% at current prices.

According to the report, the manufacturing grew by 5.34% and 55.36% at constant and current prices, respectively, while real estate and business services increased by 4.71% at constant prices and 3.53% at current prices, and other social and personal services achieved growth of 4.27% at constant prices and 0.40% at current prices.

The results showed that agriculture and fishing activity increased by 3.86% at constant prices and 1.16% at current prices. While construction activity surged by 2.97% and 5.06% at constant and current prices, respectively.

As for trade activity, it grew by 1.57% at constant prices and 1.93% at current prices. In contrast, government and private education services declined slightly by 0.96% and 0.34% at constant and current prices, and similarly the government and private health services decreased by 3.93% and 4.39% at constant and current prices.

The Authority said mining and quarrying activity declined by 4.58% at constant prices while rising by 39.42% at current prices.

Comparing the economic performance of Q1 2022 to the previous quarter, the report said the economic growth was up 0.48% and 2.13% at constant and current prices, respectively.

The results showed that the oil sector fell by 6.78% at constant prices while it grew by 9.41% at current prices, and the non-oil sector achieved an increase of 2.02% at constant prices and increased by 0.86% at current prices respectively.

The report showed the other government services grew 5.03% at constant prices while it decreased by 1.5% at current prices, as well as manufacturing activity increased by 2.51% and 0.77% at constant and current prices, respectively, followed by real estate and business services activity by 0.83% at constant prices and 1.67% at current prices.

According to the Authority, the construction activity grew by 0.11% and 2.31% at constant and current prices, respectively.

The results showed a slight decline in other social and personal services, reaching 0.47% at constant prices and 0.03% at current prices. Trade activity decreased by 0.86% at constant prices and grew by 1.17% at current prices, it stated.

The report also revealed a relatively slight slowdown in some economic activities compared to the same quarter of the previous year, it added.

Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).