Bahrain’s GDP growth leads GCC countries after a strong performance in the fourth quarter of 2024. The Kingdom recorded a real GDP increase of 7% compared to the previous quarter, the highest among GCC nations.
Year-on-year, Bahrain’s economy grew by 3.4% compared to Q4 2023. On nominal terms, Bahrain’s GDP expanded by 7.1% compared to Q3 2024. These figures highlight the resilience and steady development of Bahrain’s economy.
Bahrain maintains its reputation as the GCC’s most diversified economy. Only 14.3% of its GDP comes from oil, while a significant 85.7% is generated from non-oil sectors. This diversification has also helped fuel continued growth and reduced vulnerability to oil price fluctuations.
The overall GCC GDP reached $587.8 billion in Q4 2024, a slight increase from $579 billion in the same quarter the previous year. The region’s year-on-year growth slowed to 0.8%, but Bahrain’s numbers stand out as a strong exception.
Non-oil sectors contributed 77.9% of total GCC GDP. Manufacturing accounted for 12.5%, wholesale and retail trade 9.9%, and construction 8.3%. Other key sectors include finance and insurance at 7% and government services at 7.5%. Real estate and other sectors make up the rest of the economic activity.
Bahrain’s leadership in GDP growth clearly reflects its strategic investments and policies focused on broad economic diversification as well. Experts say Bahrain’s approach sets a strong example in quickly adapting to the global economic challenges as well as sustaining long-term, stable growth.
The Kingdom continues to attract foreign investments and develop new industries, further strengthening its economy. Government initiatives supporting innovation and entrepreneurship have also played a crucial role in this growth.
In summary, Bahrain GDP growth leads GCC thanks to steady reforms and a growing non-oil economy. The Kingdom’s diversified approach positions it well for sustainable future development and economic stability as well.
