Bahrain’s exports cross BD579m in first quarter

MANAMA: Bahrain’s national origin exports during the first quarter this year amounted to BD579 million, decreasing by one per cent compared with BD587m for the same quarter of the previous 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 that the top 10 trading partners accounted for 83pc of the value of the kingdom’s national origin exports with the remaining 17pc claimed by other countries.

Saudi Arabia was the top importer of Bahraini products, with a value of BD163m, followed by the UAE with BD64m and the US in third place with BD57m, the iGA said.

Agglomerated iron ores and concentrates emerged as the top product exported from Bahrain with a value of BD65m followed by unwrought aluminium (not alloyed) with a value of BD57m and unwrought aluminium alloyed in third place accounting for BD54m.

The report found that the value of re-exports increased by 16pc to BD227m during the quarter when compared with BD196m for the same quarter of the previous year, with the top 10 trading partners accounting for 89pc of the re-exported value.

The UAE was the leading market for re-exports from Bahrain accounting for a value of BD64m, followed by Saudi Arabia with BD51m and the US coming third with BD19m.

Gold ingots emerged as the top product re-exported from Bahrain with a value of BD36m, four-wheel drive cars came in second place netting BD26m followed by turbo jets in third place with BD18m.

The report said value of imports increased by 8pc reaching BD1.244 billion during the quarter compared with BD1.157bn for the same quarter of the previous year with the top 10 trading partners accounting for 67pc of the imports value.

According to the report, China was ranked as the top exporter to Bahrain with BD156m, followed by Brazil with BD97m and Saudi Arabia in third place with BD94m.

Non-agglomerated iron ores and concentrates emerged as the top product imported into Bahrain with a value of BD90m while aluminium oxide was the second most imported at BD88m 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 BD438m for the quarter, versus BD374m for the same quarter of the previous year.

Source: http://www.gdnonline.com/Details/810957/Bahrain’s-exports-cross-BD579m-in-first-quarter