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FINANCIAL NEWS
Bahrain reports 0.7% expansion in Q3 real economy
05 Dec 2012
(MENAFN) Bahrain’s Central Informatics Organization’s head, Mohammed al-Amer, stated that in the third quarter, the country’s real economy expanded 0.7 percent from the second quarter, reported Arabian Business citing state news agency BNA.
Al-Amer said that the growth is compared with a contraction of 1.3 percent in the second quarter.
He added that the Kingdom’s real gross domestic product grew 3.1 percent in the third quarter on annual basis; however, it represented a decline from the 4.3-percent gain posted in the previous quarter.
He attributed the annual growth in GDP to non-oil economic activities, which rose 5.9 percent in constant prices.
The country’s hydrocarbon sector’s production dipped 7.1 percent on annual basis as a result of a decline of almost 10 percent in crude output from the Abu Safa field, which contributes with 70 percent of the Kingdom’s budget revenue.
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