Bahrain Witnesses Increase In Economic Growth

Bahrain’s economy witnessed a growth of 8.25 per cent during the second quarter of this year (Q2) in current prices compared to the same quarter of 2017, according to the latest official data.
The non-oil sector saw an increase of 2.4 per cent in constant prices, said a report issued by Information & eGovernment Authority (iGA).
The report said the oil sector had recorded an increase of 40.23 per cent in current prices due to the rise in the prices of oil.
The report said the manufacturing industry grew by 4.45 per cent at constant prices and 3.16 per cent in current prices due to an increase in the value of major industrial commodities produced in Bahrain, compared to second quarter of 2017.
Construction activity grew by 6.65 per cent at constant prices and 7.42 per cent at current prices. Real estate and business activities grew by 3.4 per cent at constant prices and 4.37 per cent at current prices. While the transportation and telecommunication sectors demonstrated a slight decrease by 0.18 per cent at constant prices and increased by 5.93 per cent at current prices.
The report indicated that other public services, excluding education and health, increased by 3.99 per cent at constant prices and 4.68 per cent at current prices. Other social and personal services also witnessed an increase of 1.84 per cent at constant prices and 1.90 per cent at current prices. Additionally, electricity and water activity witnessed an increase of 3.92 per cent in constant prices and 11.88 per cent in current prices.
The report indicates that private and public educational services rose by 3.46 per cent at constant prices and 2.89 per cent at current prices; private and public health services increased by 4.78 per cent at constant prices and 6.48 per cent at current prices. Agricultural and fishing activity also increased by 1.61 per cent in constant prices and 4.37 per cent in current prices.
According to the report, the growth witnessed during the second quarter in comparison to the first quarter demonstrates economic progress of 6.10 per cent at constant prices and 5.12 per cent at current prices. Moreover, the oil sector increased by nearly 22.31 per cent at constant prices and 19.44 per cent at current prices. The non-oil sector increased by 3.03 per cent and 2.83 per cent at constant and current prices, respectively.
Current prices measure GDP using the actual prices noticed in the economy and makes no adjustment for inflation. Constant prices adjust for the effects of inflation. Using constant prices enables us to measure the actual change in output (and not just an increase due to the effects of inflation).
Source Credit: Trade Arabia