Bahrain's economy shrank 1.1% year-on-year in the first quarter of 2020, following a 0.4% contraction in the previous three-month period, entering the first recession since comparable records began in 2009. The non-oil sector, where the repercussions of the Covid-19 pandemic were more evident, contracted 1.7%, led by restaurants & hotels (-36%), transportation & storage (-6.3%); government services (-2.9%); financial services (-1.6%) and real estate & business activities (-0.4%). Meanwhile, growth was recorded in manufacturing (4.8%); social & personal services (1.3%) and construction (0.3%). On the other hand, the oil sector grew 1.8%, driven by a 12.5% increase in gas production. On a quarterly basis, the GDP fell 2.2%, the most since 2011, compared to a 1.4% rise in the previous period.
GDP Annual Growth Rate in Bahrain averaged 3.69 percent from 2000 until 2020, reaching an all time high of 11.43 percent in the fourth quarter of 2010 and a record low of -2.86 percent in the fourth quarter of 2011. This page provides the latest reported value for - Bahrain GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Bahrain GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020.
GDP Annual Growth Rate in Bahrain is expected to be -0.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Bahrain to stand at 2.40 in 12 months time. In the long-term, the Bahrain GDP Annual Growth Rate is projected to trend around 3.00 percent in 2021 and 2.50 percent in 2022, according to our econometric models.