Monday 6 February 2023
 
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EXPORTS JUMP 24%

Bahrain trade deficit down to $411m in 2022

MANAMA, 12 days ago

The value of exports of Bahrain origin products increased 24%, reaching BD4.967 billion ($13.18 billion) during 2022, compared to BD3.994 billion in the previous year. 
 
The value of imports into Bahrain increased 10% in 2022, reaching to BD5.842 billion ($15.5 billion), compared to BD5.316 billion for the previous year, said the foreign trade report of 2022 released by the Information &eGovernment Authority (iGA).
 
Bahrain recorded a trade deficit of BD155 million ($411.26 million) during 2022 compared to a deficit of BD643 million for the previous year.
 
The top 10 countries accounted for 69% of the value of imports, while the remaining countries accounted for 31%, 
 
According to the report, imports from China ranked first with a total value of BD845 million, Brazil was the second with BD620 million, and Australia was the third with BD509 million.
 
Non-agglomerated iron ores and concentrates was the top product imported into Bahrain with a total value of BD698 million, while aluminum oxide was second with BD468 million, and parts for airplanes third with BD168 million.
 
The top 10 countries in terms of the value of exports of national origin accounted for 72% of the total value, while the remaining countries accounting for 28%, the report said.
 
The Kingdom of Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD983 million from Bahrain.  The US was second with BD694 million and the UAE was third with BD465 million.
 
Unwrought aluminum alloys emerged as the top products exported during 2022 with a value of BD1.75 billion, agglomerated iron ores and concentrates alloyed was second with a value of BD798 million and unwrought aluminum not alloyed third with BD245 million.
 
The total value of re-exports increased by 6% to reach BD720 million during 2022, compared with BD679 million for the previous year. 
 
The top 10 countries accounted for 83% of the re-exported value, while the remaining countries accounted for the 17%. Saudi Arabia ranked first with BD163 million, the UAE second with BD152 million, and Singapore third with BD104 million.
 
Airplane parts was the top product re-exported from Bahrain worth BD113 million. - TradeArabia News Service
 



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