MANAMA - Bahrain’s economy saw good growth during the third quarter last year due to increase in infrastructure investments and financial stability, shows data from the Information and eGovernment Authority (iGA).

Released yesterday, a report on initial results of the national accounts says the annual real GDP growth rate was 3.6pc and the nominal GDP annual growth rate is 6.9pc compared with the same period of the previous year.

These positive indicators reflect the government’s efforts to enhance the national economy which faces challenges at the local, regional and international levels.

The report said real growth rate for the quarter was 1.6pc and the nominal growth rate was 2.2pc when compared with numbers of the second quarter last year.

Growth in the oil sector during the third quarter increased by nearly 13.4pc at current prices due to the higher price of a barrel of oil during the period when compared with the previous year.

The oil sector witnessed a decrease about 0.3pc at constant prices compared with the third quarter of 2016 owing to the decrease in quantities of oil produced that fell 2.3pc by the proportion of the third quarter of last year.

Due to increase in production, the manufacturing industry has grown by 3.2pc at constant prices and 3.5pc at the current prices.

Construction sector grew by 0.8pc at constant prices and 12pc at current prices.

Real estate and business activities grew by 4.6pc at constant prices and by the same percentage at current prices, whereas the transport and communications sector achieved an increase of 5.8pc at constant prices and 8.3pc at current prices.

The report pointed out that other government services increased by 3.1pc at constant prices and 2pc at current prices, while social and personal

services increased by 7.5pc at constant prices and 7.3pc at current prices.

Electricity and water activities grew by 5.2pc at constant prices and 13.7pc at current prices.

The report indicates that private and government education services rose by 1.4pc at constant prices and 2.6pc at current prices, while health services increased by 9.8pc at constant prices and 4pc at current prices.

As for agricultural activity and fishing, it decreased by 3.6pc in terms of constant prices and 6.8pc in terms of current prices.

The iGA said that a comparison of the results of the third quarter of 2017 with the second quarter of the same year shows that the economy increased by 1.6pc in constant prices and by 2.2pc in current prices.

Similarly, the oil sector recorded a rise of 3.3pc in constant prices and 6.4pc in current prices.

Likewise, the non-oil sector increased by 1.2pc and 1.6pc, respectively, at constant and current prices.

Also, the report pointed out that financial activities witnessed a slight increase of about 1pc in constant prices and 1.2pc in current prices.

Construction sector grew by 1.6pc at constant prices and 0.9pc at current prices.

The value added in the transport and communication sector showed that the sector improved by 2.2pc at constant prices and 8pc at current prices.

The manufacturing sector achieved 1.9pc growth in constant prices and 0.1pc in current prices.

According to the report, government services increased by 0.5pc at constant prices and 0.6pc at current prices. While other social and personal services increased by 2.1pc at constant prices and 0.8pc at current prices.

Government and private education services have shown a rise of 1.4pc in constant prices and 1.4pc in current prices.

In addition, government and private health services increased by 2.2pc at constant prices and 1.9pc at current prices. Agriculture and fishing activities declined by 3.5pc at constant prices and 2.1pc at current prices.

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