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Bahrain Q2 GDP rises on the quarter, falls on the year.

Data from the Central Informatics Organisation showed that on an annual basis, GDP growth in the island kingdom decelerated to 0.8 per cent in the second quarter from 1.8 per cent growth in the January to March quarter.

Earlier this year, the small non-Opec oil exporter saw its worst public unrest since the 1990s. Around 30 people died in a month of unrest which brought in Saudi troops, closed banks and shops and triggered capital flight. At the time, NCB Capital estimated economic losses at $1 billion, which made up 17 per cent of the first quarter GDP.

In July, Central Bank Governor Rasheed Al Maraj expected the economy to expand by three per cent this year, less than 4.5 per cent seen by the finance ministry in March.

Bahrain's financial sector, which accounts for around a quarter of the GDP, has been only slowly picking up from the global financial crisis and a regional property crash.

2011 CPI Financial. All rights reserved.

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Publication:CPI Financial
Date:Sep 5, 2011
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