Friday 5 June 2020

Bahrain-origin exports surge 11pc to $516m in February

MANAMA, April 2, 2020

The value of Bahrain’s exports of national origin increased by 11 per cent to BD196million ($516 million) during February, compared to BD177million for the same month of the previous year, said the Information & eGovernment Authority (iGA) in its foreign trade report.

The top 10 countries in terms of the value of exports of national origin purchased from Bahrain accounted for 85 per cent of the total value, with the remaining countries accounting for 15 per cent.

Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD57 million from Bahrain. Meanwhile, the United Arab Emirates was second with BD28millionand Oman third with BD19million.

Agglomerated Iron and Concentrates as the top products exported during February with BD29 million; bridges and bridges-sections was second with a value of BD16million; and aluminium wire not alloyed third with BD15million.

The total value of re-exports increased by6 per cent to reach BD75 million during February, compared to BD71 million for the same month of the previous year. The top 10 countries accounted for 90 per cent of the re-exported value, while the remaining countries accounted for the 10 per cent.

The United Arab Emirates ranked first with BD23million, Saudi Arabia second with BD17million, and the US third with BD8million.

Gold ingots emerged as the top product re-exported from Bahrain with BD15million, four-wheel drive cars came in second place with BD8million, and parts for Aeroplanes came third with BD7 million.

The trade balance, difference between exports and imports, the value of the deficit of the trade balance reached BD123 million during February of 2020 versus BD102million for the same month of the previous year with an increase of 21 per cent.

The value of imports increased by 13 per cent, reaching BD394 million during February2020compared to BD350 million for the same month the previous year. The top 10 countries accounted for 68 per cent of the value of imports, with the remaining countries accounting for 32 per cent.

According to the report, China ranked first when it came to imports to Bahrain, with a total of BD57million; Brazil was second with BD38million; and Saudi Arabia was third with BD30million.

Aluminium oxide as the top product imported into Bahrain with a total value of BD31 million, while Non-agglomerated iron ores and concentrates emerged was second with BD24 million, and four-wheel drive cars third with BD15 million. – TradeArabia News Service


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