Value of local Bahrain product exports increases | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

Value of local Bahrain product exports increases

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Bahrain’s value of exports of national origin has increased by 12% to reach BD599 million during the fourth quarter of 2020, up from BD532 million for the same period of the previous year.

The value of imports decreased by 7%, reaching BD1.191 billion during the fourth quarter of 2020 compared with BD1.282 billion for the same quarter the previous year.

This was according to the Information and eGovernment Authority (iGA) foreign trade report of the fourth quarter of 2020, encompassing data on the balance of trade, imports, exports (national origin), and re-exports.

The trade balance, the difference between exports and imports, recorded a deficit totalling BD435 million during fourth quarter 2020 compared with BD530 million for the same quarter of the previous year, an improvement of 18%.

The top 10 countries in terms of the value of exports of national origin purchased from Bahrain accounted for 72% of the total value, with the remaining countries accounting for 28%. Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD127 million from Bahrain.

The US was second with BD52 million and the UAE third with BD51 million Unwrought aluminium alloys emerged as the top products exported during third quarter 2020 with BD106 million, agglomerated iron ores and concentrates alloyed was second with a value of BD71 million, an unwrought aluminium (not alloyed) third with BD57 million.

According to the report, the top 10 countries accounted for 69% of the value of imports, with the remaining countries accounting for 31%. China ranked first with BD166 million, followed by Saudi Arabia with BD96 million and Australia with BD87 million.

Aluminium oxide was the top product imported into Bahrain with a total value of BD89 million, while non-agglomerated iron ores and concentrates were second with BD68 million, and four-wheel drive cars third with BD52 million.

The total value of re-exports decreased by 28% to reach BD157 million in the fourth quarter of 2020, compared with BD220 million for the same quarter of the previous year.

The top 10 countries accounted for 83% of the re-exported value, while the remaining countries accounted for the 17%.

The UAE ranked first with BD48 million, followed by Saudi Arabia with BD43 million, and the US with BD10 million.

Four-wheel drive cars were the top product re-exported from Bahrain with BD29 million, agglomerated iron ores and concentrates alloyed were second with BD10 million, and parts for aeroplanes third with BD7 million.