Non-oil trade between Saudi and Bahrain surges 43% in Q3, despite coronavirus crisis

Non-oil trade between Saudi Arabia and Bahrain increased 43 percent to $688.4 million during the third quarter of 2020 compared to $481m during Q3 of 2019, despite the continued economic crisis caused by the global coronavirus pandemic.

The surge in trade between both countries comes following the ease of restrictions on cargo transit over the King Fahd Causeway back in August.

 

Bilateral commerce between the two nations surged 12 percent past the $2bn mark during the first three quarters of 2020 to record a substantial year-on-year increase from the 2019 figure of $1.93bn.

Abdulhakim Al Shamary, board member of the Bahrain Chamber of Commerce and Industry (BCCI), said: "The King Fahd Causeway acts as an essential link between Bahrain and the wider $1.5 trillion Gulf economy for millions of passengers and commercial trucks each year.

"Despite Covid-19, commercial drivers have still been able to use the bridge enabling critical continuity for the logistics sector.”

Saudi Arabia is one of Bahrain's key trading partners, with majority of imports and exports flowing via the King Fahd Causeway – a 25 kilometre bridge connecting both kingdoms by road.

It was also recently announced that Bahrain Customs has installed high-tech artificial intelligence scanners at the King Fahd Causeway, automating data collection and allowing shipment inspections to take place before reaching the border.

 

Source: https://www.arabianbusiness.com/banking-finance/453661-non-oil-trade-between-saudi-bahrain-surges-43-in-q3-despite-coronavirus-crisis

 

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