National Economy Grows 3.3% in Q1 2024, Driven by Non-Oil Sectors

TDT | Manama

The Daily Tribune - www.newsofbahrain.com

Significant growth has characterised the Kingdom of Bahrain’s economic landscape, as detailed in the Economic Quarterly Report for Q1 2024, now available on the Ministry of Finance and National Economy's website.

The Information and eGovernment Authority has updated the national accounts to reflect the latest International Standard Industrial Classification of all Economic Activities (Rev. 4). This adjustment aims to standardise the data, improving its comparability across various platforms and providing a clearer picture of economic activities.

Preliminary figures indicate a 3.3% growth in GDP at constant prices for Q1 2024, driven by increases in oil and non-oil sectors, which rose by 3.4% and 3.3% respectively. At current prices, GDP saw a 3.4% year-on-year increase, with the oil sector expanding by 7.4% and the non-oil sector by 2.8%.