Bahrain Economic Quarterly report Q1 2020

Bahrain Economic Quarterly report Q1 2020

The Ministry of Finance and National Economy published the Q1 2020 Bahrain Economic Quarterly report for the Kingdom of Bahrain on the Ministry's website (www.mofne.gov.bh). The report covers the Kingdom's economic data across various sectors, as well as an assessment of global and regional economic developments.



The global impact of COVID-19 affected Bahrain's overall economic performance in Q1, causing a decline in real GDP growth (at constant prices) at a rate of 1.1% YoY, while the rate of decline reached 4.9% at current prices.



The oil sector recorded growth at an annual rate of 1.8% at constant prices, driven by an increase in oil and gas production by 0.5% and 12.5%, respectively, although growth declined in current prices by 11.5%. On the other hand, the non-oil sector GDP registered a decrease of 1.7% at constant prices and 4% at current prices.



Indicators within the report reflected continued growth in a number of non-oil sectors despite the challenges; the manufacturing sector achieved real growth of 4.8%, supported by the increase in the production volumes by Aluminum Bahrain Company "Alba“ by 42.5%, the social and personal services sector grew by 1.3%, while the construction sector witnessed growth of 0.3%.



Due to global