Bahrain’s exports surge 11%

      Published on Saturday, 4 April , 2020      512      
Bahrain’s exports surge 11%

  • Bahrain News

Bahrain’s national origin exports in February amounted to BD196 million,

increasing by 11 per cent compared with BD177m for the same month of the previous year, shows the latest report from the Information and eGovernment Authority (iGA).

The report that includes data on balance of trade, imports, exports and re-exports (national origin), said that the top 10 trading partners accounted for 85pc of the value of the kingdom’s national origin exports with the remaining 15pc claimed by other countries.

Saudi Arabia was the top importer of Bahraini products, with a value of BD57m, followed by the UAE with BD28m and the US in third place with BD19m, the iGA said.

Agglomerated iron ores and concentrates emerged as the top product exported from Bahrain with a value of BD29m followed by bridges and bridges sections with a value of BD16m and aluminium wire not alloyed in third place accounting for BD15m.

The report found that the value of re-exports increased by 6pc to BD75m during the month when compared with BD71m for the same month of the previous year, with the top 10 trading partners accounting for 90pc of the re-exported value.

The UAE was the leading market for re-exports from Bahrain accounting for a value of BD23m, followed by Saudi Arabia with BD17m and the US coming third with BD8m.

Gold ingots emerged as the top product re-exported from Bahrain with a value of BD15m, four-wheel drive cars came in second place netting BD8m followed by parts for aeroplanes in third place with BD7m.

The report said value of imports decreased by 13pc reaching BD394m during the month compared with BD350m for the same period of the previous year with the top 10 trading partners accounting for 68pc of the imports value.

According to the report, China was ranked as the top exporter to Bahrain with BD57m, followed by Brazil with BD38m and Saudi Arabia in third place with BD30m.

Aluminium oxide emerged as the top product imported into Bahrain with a value of BD31m while non-agglomerated iron and concentrates was the second most imported at BD24m and four-wheel drive cars in third place with BD15m.

The trade balance, or the difference between exports and imports, amounted to a deficit of BD123m, versus BD102m for the same month of the previous year.

Category Bahrain News, Business | 2020/04/04 latest update at 8:54 AM
Source : Zawya | Photocredit : Google
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