Bahrain’s economy grew by 6.9 percent in the second quarter of this year. The growth in non-oil sectors of the country paved the way for the economic boom. In the non-oil sector, the hotel and restaurant sector has seen the highest growth. The sector registered a growth of 18.1 percent over the previous year.
The transport and telecommunication sector came second with a growth of 15.1 percent. The growth of the third ranked manufacturing sector is 7.6 percent. Aluminum Bahrain (Alba), Bahrain National Gas Company (Banagas) and Bahrain Petroleum Company (Bapco) also recorded growth during the period. The trade sector achieved a growth of 7.5 percent. Growth in point-of-sale and e-commerce has also helped the business sector, the figures show.
While 7.1 percent growth was recorded in the government service sector. Both the real estate sector and the business services sector made notable gains in the second quarter. The growth in these sectors is 4.5 percent. With the awarding of contracts worth $100 million in the second quarter of this year under the Gulf Development Fund, the total amount of contracts awarded under this program so far has risen to $6.1 billion. Sheikh Mohammed Bin Khalifa Bin Salman Al Khalifa Heart Centre, Janabiya Road Development Project and Sports City Project are the major projects awarded contracts in the country during this period.