Bahrain Mirror: Official information published by the Information and eGovernment Authority in Bahrain showed a decline in the country's gross domestic product (GDP) and economic growth rate in the first quarter of 2018, compared with the first quarter of 2017.

The authority said that the reduction in oil production of Bahrain's two fields as well as Abu Safa's led to a decline in its oil GDP in constant prices by 14.7% compared to the same period of the previous year. It also stated that the establishment of a new oil marine pipeline - that links between Bahrain's refinery and the Saudi Aramco during the current year - is expected to increase in oil production in the coming period.

Bahrain's GDP in the current prices grew by 5.1% during the first quarter of the year as compared to the same quarter of 2017, the Information & eGovernment Authority said in a new report. However, GDP has reduced in the constant prices by 1.2% comparing to the same quarter of last year.

Besides the decline in the oil sector by 14.7%, the country's financial projects recorded a decline of 0.1%, while all other sectors and activities recorded different growth rates. Meanwhile, Bahrain non-oil sector increased 1.9 %, construction activity grew by 6.7% and real-estate and business activities grew by 3.7%.

The transportation and telecommunication activity decreased by 0.8%. The report has also shown that the manufacturing activity has grown by 4.2%. The report indicated that other government services increased by 3.8%; social and personal services also witnessed an increase by 3.4 %. Additionally, electricity and water activity have witnessed an increase by 1.6 %. However, private and government educational services rose by 4.8%.

Private and government health services also increased by 6.5 %. As for agricultural activity and fishing, it also increased by 7.3%.

Comparing the first quarter of 2018 to the fourth quarter of 2017, results have shown an economic decline of 0.5%.

The financial corporations have witnessed a decrease of 0.7% in constant. Besides, real-estate and business activities witnessed a decline by 0.4%. Meanwhile, social and personal services decreased by 4.5 % and electricity and water activities decreased by 0.3%.

Arabic Version