The economy of Bahrain advanced 0.84 percent year-on-year in the second quarter of 2019, slowing from a downwardly revised 2.55 percent increase in the previous period. It was the weakest growth rate since the first quarter of 2018, as output dropped for mining & quarrying (-0.94 percent vs 8.57 percent in Q1), particularly crude petroleum & natural gas (-0.80 percent vs 9.20 percent); other government services (-2.73 percent vs 0.49 percent) and insurance (-0.12 percent vs 1.67 percent). In addition, production slowed for both financial (6.03 percent vs 6.40 percent) and offshore financial institutions (2.16 percent vs 2.57 percent). On the other hand, construction output advanced faster (3.96 percent vs 2.86 percent) while transport & communication production rebounded (3.43 percent vs -0.35 percent). On a quarterly basis, the GDP advanced 3.39 percent, rebounding from an upwardly revised 3.05 percent decrease in the first quarter of the year. GDP Annual Growth Rate in Bahrain averaged 3.92 percent from 2000 until 2019, 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.
GDP Annual Growth Rate in Bahrain is expected to be 2.40 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 3.00 in 12 months time. In the long-term, the Bahrain GDP Annual Growth Rate is projected to trend around 3.50 percent in 2020, according to our econometric models.