Bahrain Exports Hit BD2.2bn Despite March Slump

TDT | Manama

Email: mail@newsofbahrain.com

Despite a March trade shock that wiped out three-quarters of re-export value in a month, Bahrain’s exports reached BD2.206 billion in the first seven months of the year.

The blow came after the Strait of Hormuz and airspace were closed on February 28, sending total exports down 32.5 pc from BD396.9 million in February to BD267.7m in March.

Goods of national origin still made up the lion’s share of trade. They were worth BD1.840bn from January to July, or 83.4 pc of all exports, while re-exports came to BD365.7m, or 16.6 pc, foreign trade figures show.

January was the strongest month, with exports worth BD412.6m. February followed at BD396.9m.

Then came the drop.

Exports sank to BD267.7m in March before rising to BD316.6m in April. They fell again to BD249.2m in May, climbed to BD312.8m in June and stood at BD250.3m in July.

National-origin exports drove most of the trade throughout the seven months.

Their value stood at BD335.8m in January and BD326.4m in February before falling to BD250.3m in March. April brought BD265m, followed by BD206.8m in May.

June saw a 25.2 pc rise to BD259m, before the figure fell to about BD197m in July.

Re-exports took the hardest hit in March.

Their value plunged from BD70.5m in February to BD17.5m in March, shedding about three-quarters in a single month.

They then rebounded to BD51.6m in April, came in at BD42.4m in May and reached BD53.8m in June.

July held near that mark at BD53.2m, more than three times the March figure.

That put re-exports at about 21.3 pc of Bahrain’s total exports in July, their highest monthly share so far this year.

Aluminium remained the mainstay of national-origin exports in July.

Aluminium and aluminium products were worth about BD110.8m, making up more than 56 pc of the month’s national-origin exports.

Unwrought aluminium alloys led the list at BD54.8m, followed by non-alloyed aluminium wire at about BD20.1m. Processed cheese came next at roughly BD15.1m.

Saudi Arabia was the top market for Bahraini goods of national origin in July, taking about BD64.7m.

The UAE followed at BD27.2m, with the United States third at BD22.8m.

Between them, the three markets bought BD114.7m of Bahraini national-origin goods in July, equal to about 58 pc of the month’s total.