Economic Growth - Bahrain's GDP is projected to grow by 2.6% in 2024 at constant prices, with the non-oil sector growing by 3.8% and the oil sector declining by 4.0% [1] - At current prices, GDP growth is expected to be 2.0%, with the oil sector decreasing by 5.8% and non-oil activities increasing by 3.3% [1] - By 2024, the contribution of non-oil activities to GDP is anticipated to reach 86.0% [1] Sector Performance - The information and communication sector is expected to have the highest growth rate in the non-oil sector at 12.3% in 2024 at constant prices [1] - The science and technology sector is projected to grow by 9.5%, followed by the hotel and restaurant services sector at 5.9%, and the transportation and storage sector at 4.9% [1] - The manufacturing sector is expected to grow by 4.5%, while the financial and insurance sector, which contributes the most to GDP, is projected to grow by 4.4% [1] Foreign Direct Investment - Foreign direct investment (FDI) inflows into Bahrain are expected to increase by 5.7% year-on-year by the end of 2024, totaling 17.3 billion Bahraini Dinars [1] Global Competitiveness - Bahrain ranks first in the Arab world in the 2025 Business Environment Index according to the Milken Institute's Global Opportunity Index [2] - In the 2024 Islamic Finance Development Report, Bahrain is ranked seventh globally [2] - Manama is included in the "Smart Cities 2025" ranking by IMD, positioned 36th among 146 cities, surpassing cities like Berlin, New York, and Paris [2]

Economic Performance - Singapore's GDP grew by 3.8% year-on-year in Q1, down from 5.0% in the previous quarter [1] - The Ministry of Trade and Industry (MTI) revised the GDP growth forecast for the year from 1.0%-3.0% to 0.0%-2.0% due to uncertainties such as the US's "reciprocal tariffs" [1][3] Sector Performance - Manufacturing output grew by 5.0% year-on-year in Q1, a decrease from 7.4% in the previous quarter, with a seasonally adjusted quarter-on-quarter decline of 4.9% [1] - Construction output increased by 4.6% year-on-year, maintaining the previous quarter's growth rate of 4.4%, but saw a seasonally adjusted quarter-on-quarter decline of 2.3% [1] - Wholesale and retail trade, transportation, and warehousing sectors grew by 4.2% year-on-year, down from 5.6% in the previous quarter [2] External Factors - MTI highlighted that the US's imposition of a 10% "baseline tariff" and increased tariffs on countries with significant trade surpluses will negatively impact global trade and economic growth [3] - The decline in external demand is expected to adversely affect Singapore's economy and the ASEAN region, leading to reduced consumer confidence and domestic investment [3][4] Financial Sector Impact - The financial and insurance sectors are anticipated to experience reduced trading activity due to risk-averse sentiment, negatively impacting net fees and commissions from banking and financial services [5] - The uncertain economic environment may suppress corporate capital investment and limit credit intermediation activities [5] Overall Economic Outlook - MTI expects external demand to weaken significantly by the end of the year, particularly affecting export-oriented sectors like manufacturing and wholesale trade [4] - The economic growth forecast for Singapore is expected to slow from 4.4% last year to between 0.0% and 2.0% this year [5]