Bahrain exports surge 6pc

MANAMA: Bahrain’s national origin exports increased by six per cent during the second quarter this year to BD595 million compared with BD561m for the same period last year, shows the latest report from the Information and eGovernment Authority (iGA).

The report that includes data on balance of trade, imports, exports and re-exports (national origin) said during the quarter, the top 10 trading partners accounted for 78pc of the value of the kingdom’s national origin exports.

During the period, Saudi Arabia was the top importer of Bahraini products, with a value of BD145m, followed by the US with BD84m and the UAE in third place with BD65m, the iGA said.

Agglomerated iron ores and concentrates was the top product category exported from the kingdom with a value of BD132m followed by unwrought aluminium alloys with a value of BD61m and aluminium wires in third place accounting for BD50m.

The report found that the value of re-exports increased by 58pc to BD180m during the quarter compared with BD114m for the same quarter last year, with the top 10 trading partners accounting for 88pc of the re-exported value.

The UAE was the leading market for re-exports from Bahrain accounting for a value of BD52m, followed by Saudi Arabia with BD51m and China coming third with BD20m.

Four-wheel drive cars emerged as the top product category re-exported from Bahrain with a value of BD21.8m, gold ingots came in second place netting BD21.6m followed by agglomerated iron ores and concentrates in third place with BD16.4m.

The report said value of imports decreased by 11pc to BD1.27 billion during the quarter compared with BD1.42bn for the same period of the previous year with the top 10 trading partners accounting for 68pc of the imports value.

China was ranked as the top exporter to Bahrain with BD171m, followed by Australia with BD104m and Brazil in third place with BD104m.

Non-agglomerated iron ores and concentrates was the top product imported to Bahrain with a value of BD125m while aluminium oxide was in second place at BD94m and four-wheel drive cars in third place with BD50m.

The trade balance or the difference between exports and imports amounted to a deficit of BD492m, 34pc lower than BD745m for the same quarter of the previous year.

Source: http://www.gdnonline.com/Details/569945