Bahrain’s exports surge 18 per cent

MANAMA: Bahrain’s national origin exports increased by 18 per cent in value during the first quarter this year amounting to BD684 million, compared with BD580m for the same quarter last year, shows the latest data from the Information and eGovernment Authority (iGA).

A report released by the government agency yesterday says the top 10 trading partners accounted for 80pc of the total national origin export value last month with the remaining 20pc claimed by other countries.

The report also includes data on balance of trade, imports and re-exports.

Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, accounting for a worth of BD153m, followed by the UAE with BD76m and the US with BD71m.

Agglomerated iron ores and concentrates emerged as the top product exported during the quarter with BD150m.

Unwrought aluminium alloys were second with a value of BD106m and aluminium wires (not alloyed) third with BD42m.

The report found that the value of re-exports decreased by 20pc to BD185m during the quarter compared with BD233m for Q1-2020, with the top 10 trading partners accounting for 89pc of the re-exported value.

The UAE was the leading market for re-exports accounting for a value of BD61m, followed by Saudi Arabia with BD49m and Oman coming third with BD19m.

Four-wheel drive cars emerged as the top product re-exported from Bahrain with a value of BD26m, followed by agglomerated iron ores and concentrates netting BD22m and apparatus for electrical control in third place with BD13m.

The report said value of imports increased by 3pc to BD1.312 billion during the quarter compared with BD1.27bn in Q1-2020 with the top 10 trading partners accounting for 72pc of the import value.

According to the report, Brazil was ranked as the top exporter to Bahrain with BD175m, followed by China with BD162m and the UAE in third place with BD102m.

Non-agglomerated iron ores and concentrates emerged as the top product imported into Bahrain with a value of BD169m while aluminium oxide was second with BD93m and four-wheel drive cars in third place with BD49m.

The trade balance, or the difference between exports and imports, amounted to a deficit of BD442m during the first quarter, an improvement of 4pc compared with BD460m in Q1-2020.

 

Source: https://www.gdnonline.com/Details/942499/Bahrain%E2%80%99s-exports-surge-18-per-cent

 

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