National Accounts Data Reveals 2.45% Growth in Bahrain's Real GDP During Q3 2023

According to recent estimates released by the Information & eGovernment Authority, Bahrain's real GDP experienced a 2.45% increase at constant prices and a 1.09% rise at current prices in the third quarter of 2023 compared to the corresponding period in 2022.

The detailed report attributes this growth to a notable 4.48% increase in the non-oil sector at constant prices and a 4.81% rise at current prices on an annual basis. The GDP at constant prices for Q3 2023 reached BD 3,387.82 million, surpassing the BD 3,306.71 million recorded during the same period in 2022.

Highlighting key contributors to this expansion, the report identifies Financial Corporations as a major player, contributing 18.08% to the real GDP, followed by the manufacturing industry at 13.85%.

Preliminary estimates of the national accounts reveal the highest annual growth rates in non-oil sectors, with the hotel and restaurants activity leading at 9.36%, followed by financial corporations with an 8.36% growth rate at constant prices.