Bahrain’s economy showed strong performance in Q2 2024, driven by growth in the non-oil sector. While the oil sector saw a 6.7% decline, the non-oil sector grew by 2.8%, boosting the overall economy.
The Transportation & Storage sector was the top performer, with an impressive 12.9% year-on-year growth. Other sectors also saw double-digit gains, including Information & Communications (11.2%) and Accommodation & Food Services (10.6%), thanks to increased tourism.
Non-oil industries now account for 85.2% of Bahrain’s real GDP, showing the country’s success in diversifying its economy. Key mature sectors like Financial & Insurance (2.1% growth) and Manufacturing (1.7% growth) also contributed to the positive results.
Additionally, Foreign Direct Investment (FDI) into Bahrain rose by 9.0% compared to last year, reaching BHD 16.6 billion. Bahrain also improved in global competitiveness, climbing to 18th in the UN e-Government Survey for 2024.
READ MORE:
Support a Cause! Join the Walkathon at Mall of Dilmunia for Pinktober
READ MORE:
This Bahrain Based Mountaineer Just Reached Africa’s Highest Peak Mount Kilimanjaro
READ MORE:
