MANAMA: Mahmood Rafique, Editor: The Kingdom of Bahrain’s economy has posted a real growth of 2.45 per cent in the third quarter of 2023.
The Financial Corporations emerged as one of the largest non-oil sectors contributing to the real GDP by 18.08%, followed by the manufacturing industry by 13.85%.
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 3.388 billion during the third quarter of 2023 compared to BD 3.306 billion during the same period of 2022.
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, according to the national accounts estimate issued by the Information & eGovernment Authority on Sunday.
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.
