Re-exports rise by 8pc to BD70 million

Bahrain’s re-exports increased by eight per cent to BD70 million in August 2023, compared to BD65m in August 2022, shows the latest data from the Information and eGovernment Authority (iGA).

The foreign trade report for last month, which also includes data on balance of trade, imports and national origin exports, says the top 10 trading partners accounted for 87pc of the total national origin export value last month with the remaining 13pc claimed by other countries.

Emerging as Bahrain’s top re-export destination, the UAE took a total of BD26m worth of products, while Saudi Arabia was second with BD10.5m and France was third with BD8m.

Turbo-jets was the top product re-exported from Bahrain in August 2023 with a total value of BD16m, whereas Jeep cars was second with BD4m, and parts for lamps or glass machines was third with BD3m.

The value of exports of products with national origin decreased by 22pc to BD324m last month, compared to BD416m in August 2022, with the top 10 countries accounting for 76pc of the total export value.

Saudi Arabia was the top export destination for Bahraini products, with a total of BD82m. The UAE was second with BD41m, and the US was third with BD36m.

The top product exported from Bahrain during August 2023 was unwrought aluminium alloys, with a total value of BD90m.

Agglomerated iron ores and concentrates alloyed was second with a value of BD57m, and aluminium wire not alloyed was third with BD21m.

The report shows that the value of imports increased by 3pc to BD534m, compared to BD520m in August 2022. The top 10 countries for imports accounted for 68pc of the total value.

China was the top importer to Bahrain, with a total of BD78m. Australia was second with BD48m, and the Brazil was third with BD47m.

The top product imported to Bahrain was non-agglomerated iron ores and concentrates alloyed, with a total value of BD68m. Other aluminium oxide was second with BD43m, and gold ingots was third with BD19m.

As for the trade balance, or the difference between exports and imports, it showed an increase in the value of the deficit, which totalled BD139m during August 2023 when compared with a surplus BD38m for the same month of 2022.

 

Source: https://www.gdnonline.com/Details/1291930

 

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