Manama: Bahrain's real Gross Domestic Product (GDP) grew by 2.6% in 2024 compared to the previous year, as revealed by preliminary national accounts estimates from the Information and eGovernment Authority (iGA). This growth in GDP is attributed to the country's strategic focus on vital sectors despite a decrease in the oil sector due to global oil price instabilities and production cuts.
According to Bahrain News Agency, the non-oil sector experienced a growth of 3.8%, underscoring the government's commitment to comprehensive economic development. The report identified financial and insurance activities as the largest contributors to the real non-oil GDP, making up 17.2%, followed by manufacturing at 15.1%.
Furthermore, the information and communications sector emerged as the fastest-growing non-oil sector with a growth rate of 12.3%. This was followed by professional, scientific, and technical activities, which grew by 9.5%, and accommodation and food service activities, which saw a growth of 5.9% at constant prices.