Bahrain's economy posts 4.6% growth rate

Bahrain's national economy has bounced back, growing by 4.6% rate of growth in the third quarter of 2013. The overall Gross Domestic Product (GDP) at constant prices stood at BD2696 million in the 3rd quarter this year, up from BD2577.1 million in the same period last year. Central Informatics Organisation (CIO) Chairman Dr. Mohammed bin Ahmed Al-Amer today announced the updated quarterly figures. In a press statement today, he said that most oil and non-oil sectors posted different rates of growth. The oil sector played a pivotal role as the driving engine of the national economy, contributing to the overall growth rate by 45% thanks to rising prices in world market and soaring production. The other economic sectors contributed to the overall growth rate by a major bulk of 55%.