Bahrain's real estate decreases 6.96% YoY at real prices in Q3 2019

Bahrain’s economy continued to grow at a steady pace in Q3 2019, supported by year-on-year growth in the non-oil sector

Bahrain's real estate decreases 6.96% YoY at real prices in Q3 2019
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Bahrain's real estate decreases 6.96% YoY at real prices in Q3 2019

Bahrain’s Information & eGovernment Authority (iGA) has unveiled preliminary data on its national accounts for Q3 2019, which showed a real economic growth rate of 1.58%, with a 0.57% increase at current prices, compared to the same period in 2018.

The data revealed that real estate and business activities decreased year-on-year by 6.96% at real prices and 3.16% at current prices, according to the state-run Bahrain News Agency.

Meanwhile, Bahrain’s economy continued to grow at a steady pace in Q3 2019, supported by growth in the non-oil sector, which showed a 1.99% YoY rise in real prices and a 3.18% YoY increase in current prices.

Image courtesy: BNA

Preliminary data for hotel and restaurant activity demonstrated a 6.28% and 8.76% increase at real and current prices respectively in Q3 2019, compared to the same period in 2018.

Comparing Q3 2019 to Q3 2018, transportation activity experienced a growth of 3.64% and 1.12% at real and current prices respectively.

Bahrain’s iGA also revealed that electricity and water activity increased 4.28% at real prices, but reduced 0.62% at current prices in Q3 2019, compared to the same period in 2018.

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