The Bahraini Economy is Achieving Real Growth of 2.45% in the Third Quarter of 2023.
26 Dec 2023
National accounts estimates issued by the Information & eGovernment Authority showed that the real GDP of the Kingdom of Bahrain increased by 2.45% at constant prices and by 1.09% at current prices during the third quarter of 2023 compared to the same period in 2022.
The Information & eGovernment Authority explained that the growth according to the detailed report is due to the increase achieved by the non-oil sector by 4.48% at constant prices and 4.81% 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 the Financial Corporations is one of the largest non-oil sectors contributing to the real GDP by 18.08%, followed by the manufacturing industry by 13.85%.
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%, followed by financial corporations with a growth rate of 8.36% at constant prices.
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