bahrain economy grew by 56 in second quarter
Last Updated : GMT 09:42:23
Arab Today, arab today
Arab Today, arab today

Bahrain economy grew by 5.6% in second quarter

Arab Today, arab today

Arab Today, arab today Bahrain economy grew by 5.6% in second quarter

Dr Jarmo Kotilaine, Chief economist at the EDB
Manama - BNA

Bahrain experienced overall GDP growth of 5.6% in Q2 2014, when compared to the same period a year earlier, according to the latest Bahrain Economic Quarterly (BEQ) report issued by the Economic Development Board (EDB) today.
The report also revealed that Q2 2014 GDP growth reached 3.2% in comparison to the first quarter of 2014, with the total GDP growth of the year 2014 expected to reach about 3.7%.
In addition, the report highlighted the important contribution of the oil and non-oil sectors to the overall robust economic growth. The non-oil sector grew by 4.7% year-on-year during Q2 2014, while the oil sector registered 9.3% growth. When compared to the previous quarter, the non-oil sector registered a rise of 3.0% and the oil sector registered a rise of 4.1%.
Dr. Jarmo Kotilaine, Chief Economist at the EDB said, "The quarterly report underlines the significant contribution of a number of key sectors to overall GDP growth. It also highlights the major role played by big projects in boosting sentiment and fostering the economic capabilities in Bahrain. Together, these factors play an important role in diversifying the national economy."
The report also revealed that the hotels and restaurants as well as the transport and communications sectors were among the key drivers of growth within the non-oil economy for Q2 2014, where growth exceeded 10% in each of these sectors, continuing the strong Q1 momentum. Social and personal services experienced growth of around 8% year-on-year. Strong performance was also registered in the transport and communications sector, which grew by almost 6%.
The report also shed light on the benefits that the tourism sector will gain through the implementation of the new visa policy which began in early October, with over 100 nationalities set to benefit. This will be reflected, along with other factors, in the continued positive momentum of the non-oil economic sector in the second half of this year.
Additionally, the report highlighted the importance of various new large-scale projects in increasing the productive capacity of the national economy.
Alba has received approval for the gas allocation needed to support its planned sixth production line, which is expected to start operating in 2018. The Line 6 project will add 400,000 tonnes to the smelter's current 890,000-tonne capacity and is expected to cost around $2.5 billion.
Other upcoming projects include the creation of the BD31 million oncology centre at the King Hamad University Hospital, which will accommodate 120 beds, and is expected to be completed in 2016. The Electricity and Water Authority (EWA) in Bahrain also announced its plans to build three power plants, with an expected cost of approximately BD 280 million.

arabstoday
arabstoday

GMT 01:56 2017 Wednesday ,22 November

AED51.4b approved for 2018 Federal Budget

GMT 23:41 2017 Tuesday ,21 November

DFM welcomes delegation from Indonesian Stock Exchange

GMT 23:05 2017 Tuesday ,21 November

We must preserve our national gains

GMT 15:25 2017 Tuesday ,21 November

Ratings boost for Saudi reform program

GMT 11:46 2017 Tuesday ,21 November

S&P affirms Saudi Arabia credit ratings

GMT 23:37 2017 Monday ,20 November

Midfield Terminal Building is 86% complete

GMT 22:55 2017 Monday ,20 November

GCC pavilion to showcase at Expo 2020 Dubai
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

bahrain economy grew by 56 in second quarter bahrain economy grew by 56 in second quarter

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

bahrain economy grew by 56 in second quarter bahrain economy grew by 56 in second quarter

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Visit Jamaica for more than just sun

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today UN warns of conflict in Gaza

GMT 08:39 2017 Tuesday ,21 November

UN warns of conflict in Gaza
Arab Today, arab today Missouri problem mirrors woes

GMT 06:46 2017 Tuesday ,21 November

Missouri problem mirrors woes
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Singer Jahda Wahba has unlimited ambitions

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 00:54 2017 Monday ,20 November

Mideast in danger as London explores

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday