Bahrain’s Q1 2020 GDP Growth Rate Down by 1.1% due to COVID-19 Global Impact

The Kingdom of Bahrain’s overall economic growth declined 1.1% year-over-year (YoY) in Q1 2020 according to Bahrain News Agency (BNA) citing the country’s Ministry of Finance and National Economy quarterly economic report.

The decline in real Gross Domestic Product (GDP) in Q1 2020 at constant prices of 1.1% YoY (4.9% decline at current prices) was attributed to the global impact of COVID-19 which affected Bahrain’s economic performance in March 2020 after witnessing growth at the start of the year.

According to the report, the oil sector, which contributed 17.2% to the GDP, recorded 1.8% YoY growth driven by increased oil and gas production of 0.5% and 12.5% respe...