Bahrain’s national origin exports surge

MANAMA: Bahrain’s national origin exports during October this year amounted to BD171 million, increasing by one per cent compared with BD170m 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 month Bahrain’s top 10 trading partners accounted for 82pc of the exported national origin value with the remaining claimed by other countries.

With a value of BD33m, Saudi Arabia was ranked the top importer of Bahraini products followed by Egypt with BD24m and the US in third place with BD22m, the iGA said.

Aluminium wires emerged as the top product exported from Bahrain with a value of BD27m followed by agglomerated iron ores and concentrates with a value of BD26m and unwrought aluminium in third place accounting for BD19m.

The report also found that the value of re-exports increased by 25pc to BD59m for the month when compared with BD128m for the same month of the previous year, with the top 10 trading partners accounting for 93pc of the re-exported value.

Saudi Arabia was the leading market for re-exports from Bahrain accounting for a value of BD22m, followed by China claiming BD10m and United Kingdom coming third with BD5m.

Four-wheel drive vehicles emerged as the top product re-exported from Bahrain with a value of BD10m, aircraft engines came in second place netting BD5m followed by hot-rolled stainless mountings in third place with BD4m.

The report said the value of imports increased by 17pc reaching BD515m during the month when compared with BD439m for the same month of the previous year with the top 10 trading partners accounting for 67pc of the imports value.

China was ranked as the top exporter to Bahrain with BD66m, followed by the US with BD58m and Australia in third place with BD46m.

Aluminium oxide emerged as the top product imported into Bahrain with a value of BD43m while non-agglomerated iron ores and concentrates were the second most imported at BD40m and floating or submersible drilling platforms in third place with BD28m.

The trade balance or the difference between imports and exports amounted to a deficit of BD286m, 29pc higher than BD222m for the same period of the previous year.

Source: http://www.gdnonline.com/Details/443128