National origin exports jump 75pc to BD943m

MANAMA: Bahrain’s national origin exports increased by 75 per cent in the second quarter (Q2) this year amounting to BD943 million, compared with BD540m in Q1-2020, shows the latest report from the Information and eGovernment Authority (iGA).

The top 10 trading partners accounted for 71pc of the value of national origin exports in Q2-2021 with the remaining 29pc claimed by other countries, says the report which also includes data on balance of trade, imports and re-exports.

Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD167m worth of goods from Bahrain.

Meanwhile, the UAE was second with BD127m and the US third with BD88m.

Agglomerated iron ores and concentrates emerged as the top product exported during the quarter with BD251m.

Unwrought aluminum alloys were second with a value of BD201m and semi-finished iron and steel was third with BD53m.

The report found that the value of re-exports increased by 15pc to BD164m during Q2-2021 when compared with BD143m for the same quarter last year, with the top 10 trading partners accounting for 86pc of the re-exported value.

The UAE was the leading market for re-exports from Bahrain accounting for a value of BD50m, followed by Saudi Arabia with BD42m and Singapore coming third with BD14m.

Four-wheel drive cars emerged as the top product re-exported from Bahrain with a value of BD21m, followed by gold ingots amounting to BD19m and parts for aircraft engines in third place with BD14m.

The report said value of imports increased by 7pc to BD1.249 billion during Q2-2021 compared with BD1.168bn for the same quarter last year with the top 10 trading partners accounting for 69pc of the imports value.

According to the report, Brazil was ranked as the top exporter to Bahrain with BD181m, followed by China with BD159m and Saudi Arabia in third place with BD85m.

Non-agglomerated iron ores and concentrates emerged as the top product imported into Bahrain with a value of BD224m while other aluminium oxide was second at BD79m and four-wheel drive cars in third place with BD41m.

The trade balance, or the difference between exports and imports, amounted to a deficit of BD141m during Q2-2021, an improvement of 71pc compared with BD485m for the same quarter last year.

 

Source: https://www.gdnonline.com/Details/951666

 

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