Bahrain’s GDP Grows 3.3% in Q1 2024 Amid Economic Sector Expansion

Bahrain, 6 August, 2024 : Bahrain’s real GDP grew by 3.3% at constant prices and 3.4% at current prices in Q1 2024, reaching BD3,610.8 million ($9,580.76 million), up from BD3,494.8 million in Q1 2023, according to the Information & eGovernment Authority.

The Oil sector saw a 3.4% growth, while the Non-oil sector increased by 3.3%. The Accommodation and Food Service sector led the growth among non-oil activities with a 10.7% increase, followed by Financial and Insurance activities at 7.4% and Information & Communications at 6.6%. Financial and Insurance activities contributed the most to non-oil GDP at 16.7%, followed by Manufacturing at 14.8%.

Bahrain has completed its transition to the International Standard Industrial Classification of All Economic Activities, revision four (ISIC4), enhancing data exchange and accuracy. This updated classification improves the analysis of economic activities and facilitates national and international comparisons.

The Information & eGovernment Authority has also expanded the coverage of economic activities, leading to an increase in GDP estimates. Comprehensive databases for annual and quarterly national accounts from 2010 onwards have been prepared with the updated classification.

Source : www.zawya.com