Bahrain’s Real GDP rose 4.3% in Q4 2021; iGA

By Salma C, Intern Reporter
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According to the National Accounts Estimates released by the Information and eGovernment Authority of Bahrain (iGA), in the fourth quarter of 2021, Bahrain’s GDP grew by 4.29 percent at real prices and 18.44 percent at current prices.  

The report revealed that the oil sector grew by 4.67 percent at constant prices and 64.15 percent at current prices. The non-oil sector recorded a growth of 4.21 percent at constant prices and 12.99 percent at current prices compared to the 4th quarter of last year, the iGA report stated.

Compared to the same quarter in 2020, the economic sector in the fourth quarter of 2021 showed a clear recovery from the pandemic in hotel and restaurant operations, registering an increase of 31.66 percent in fixed prices and 39.82 percent in current prices.

iGA report also featured the rise in fixed prices in transport and communications where they grew by 11.54 percent and current prices by 5.53 percent. Agriculture and fisheries also achieved growth, with fixed prices rising 10.24 percent but falling 0.06 percent on current prices. Electricity and water prices rose by 9.59 percent at constant prices and 8.28 percent at current prices.

Government and private health services witnessed a 7.88 percent and 6.93 percent growth at constant and current prices, respectively, while other social and personal services rose 7.11 percent at constant prices and 13.81 percent at current prices.

Financial projects increased by 5.15 percent at constant prices and 2.63 percent at current prices. Mining and quarrying activity grew to 4.78 percent and 58.38 percent at constant and current prices, respectively.

Real estate and business services achieved a growth of 4.78 percent at constant prices and 2.49 percent at current prices. Manufacturing grew by 1.79 percent at constant prices and 47.18 percent at current prices.

According to the iGA, economic growth in the fourth quarter of 2021 was 1.49 percent at constant prices and 9.62 percent at current prices compared to the previous quarter.

The oil sector fell by 4.49 percent at constant prices while it grew by 2.11 percent at current prices The non-oil sector achieved an increase of 2.86 percent and 11.03 percent at constant and current prices, respectively.

The report also revealed a rise in educational services, hotels, and restaurants. Government and private educational services recorded a growth of 28.76 percent at constant prices and 31.71 percent at current prices.

Hotels and restaurants increased by 20.58 percent and 28.80 percent at constant and current prices because of the continued recovery of the tourism sector in the Kingdom, stated the report.

According to iGA, the transportation and communications sector witnessed a 2.58 percent and 1.75 percent growth at constant and current prices, respectively, followed by real estate activity and business services by 1.84 percent in real prices and 1.30 percent at current prices.

Other social and personal services were 1.73 percent at constant and 2.13 percent at current prices, followed by construction at 1.59 percent and 0.82 percent at constant and current prices, respectively, it stated.

The report shows different proportions of recovery in other government services, financial plans, business activity, construction, and government and private health services compared to the fourth quarter of the previous year.

Related: Qatar Banks record highest average ROE in Q4 2021; Kamco Invest


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