Bahrain’s real GDP growth is projected to rise to 5.6% in 2013 from 3.4% in 2012 and 1.9% in 2011, according to the the Bahrain Economic Development Board in its 2013 Year Book released this week.
The 2013 GDP increase will be largely driven by the improvement in oil production from the Abu Sa’fa offshore field (shared equally with Saudi Arabia) and planned increases form the Bahrain (Awali) field. This would pull growth in the hydrocarbon sectors to a projected 10.5% in 2013, after falling by 8.5% in 2012 with the decline in oil production from Abu Sa’fa due to maintenance. The non-hydrocarbon sector is expected to rise by 4.4% in 2013. For 2014 real GDP is projected to grow by 4.0%. (CONTINUED - 353 WORDS)