The value of Bahrain’s exports of national origin products increased by 15% to BD669 million ($1.76 billion) during the third quarter 2020, compared to BD584 million for the same quarter of the previous year, a report said.
The top 10 countries in terms of the value of exports of national origin purchased from Bahrain accounted for 74% of the total value, with the remaining countries accounting for 26%, said the Information & eGovernment Authority (iGA) in its foreign trade report of the third quarter2020.
Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD137 million worth products. Meanwhile, Malaysia was second with BD83 million and Oman third with BD56 million.
Unwrought aluminium (not alloyed) emerged as the top products exported during third quarter 2020 with BD146 million, unwrought aluminium alloys was second with a value of BD124 million, and agglomerated iron ores and concentrates alloyed third with BD56 million.
The total value of re-exports decreased by 29% to reach BD143 million in the third quarter 2020, compared to BD200 million for the same quarter of the previous year. The top 10 countries accounted for 89% of the re-exported value, while the remaining countries accounted for the 11%.The United Arab Emirates ranked first with BD41 million, Saudi Arabia second with BD39 million, and the US third with BD17 million.
Four-wheel drive cars emerged as the top product re-exported from Bahrain with BD14 million, gold ingots came in second place with BD12 million, and agglomerated iron ores and concentrates alloyed came third with BD8 million.
The trade balance, the difference between exports and imports, recorded a deficit totalling BD355 million during third quarter 2020, compared to BD494 million for the same quarter of the previous year, an improvement of the trade balance by 28%.
The value of imports decreased by 9%, reaching BD1.166 billion during Q3 2020 compared to BD1.277 billion for the same quarter the previous year. The top 10 countries accounted for 67% of the value of imports, with the remaining countries accounting for 33%.
According to the report, China ranked first when it came to imports to Bahrain, with a total of BD142 million, Switzerland was second with BD103 million, and Australia was third with BD82 million.
Aluminium oxide emerged as the top product imported into Bahrain with a total value of BD77 million, while non-agglomerated iron ores and concentrates was second with BD59 million, and central heating boilers third with BD39 million. – TradeArabia News Service