Bahrain GDP Growth Accelerates to 2.1% in Q3

Bahrain's economy expanded by 2.1% year-on-year in Q3 of 2024, accelerating from a downwardly revised 0.7% growth in the previous quarter, preliminary data showed.

It marked the 14th consecutive quarter of expansion, boosted by a 3.9% increase in the non-oil sector, which accounts for 86.4% of the GDP.

Among economic activities, telecommunication technology grew the most (11.9%), followed by business activities (8.1%), public administration (5.9%), financial and insurance (5.8%), and manufacturing (4.2%).

Meanwhile, wholesale and retail trade rose by 2.1%, while the construction sector recorded a slight growth of 0.4%.

By contrast, oil sector activities shrank 8.1%.

For the full year of 2024, the economy is expected to grow by 2.7%, slowing from a 3.9% expansion in 2023.

For 2025, GDP growth is projected to accelerate to 3.5%