Bahrain May trade narrows as non-oil imports fall 2pc

Bahrain’s non-oil imports fell two per cent year-on-year in May to BD466 million, according to a report by the Information and eGovernment Authority (iGA) released on Wednesday. The top 10 import partners accounted for 69pc of the total value.

China remained the top import source for Bahrain, accounting for 14pc of the total, followed by Brazil (10.1pc) and Australia (9.9pc). Notably, non-agglomerated iron ores and concentrates led import categories by value (11pc), followed by other aluminium oxide (9pc) and four-wheel drive vehicles (3pc).

Meanwhile, non-oil exports from Bahrain also declined, falling 12pc year-on-year to BD316m. The top 10 export destinations absorbed 73pc of the total value. Saudi Arabia remained the top export partner (20pc), followed by the US (11pc) and the UAE (10pc).

Unwrought aluminium alloys were the leading export product (30pc), with agglomerated iron ores and concentrates (19pc) and aluminium wire (6pc) following closely.

The report also highlighted a 28pc decline in non-oil re-exports to BD51m compared with May 2023. The UAE remained the top re-export destination (37pc), followed by Saudi Arabia (29pc) and Germany (4pc). Private cars were the most re-exported product category (6.5pc), followed by four-wheel drive vehicles (6.1pc) and gold ingots (6pc).

The trade deficit widened significantly to BD99m in May 2024 compared to a deficit of BD43m in the same month last year.

Source: https://www.gdnonline.com/Details/1316439