Local product exports value up by 25% to BD200 million | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

Local product exports value up by 25% to BD200 million

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Bahrain’s value of exports of national origin has increased by 25% to BD200 million in January, up from BD160 million during the same month of the previous year.

The value of imports decreased by 9%, reaching BD406 million last month compared with BD445 million during the same month of the previous year.

This was according to the Information and eGovernment Authority (iGA) foreign trade report of January 2021, 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 BD154 million during January compared with BD211 million during the same month of the previous year, an improvement of 27%.

The top 10 countries in terms of the value of exports of national origin purchased from Bahrain accounted for 82% of the total value, with the remaining countries accounting for 18%.

Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD41 million from Bahrain.

The UAE was second with BD32 million and Oman third with BD18 million.

Agglomerated iron ores and concentrates emerged as the top products exported last month with BBD30 million, semi-finished iron and steel were second with a value of BD25 million, and Unwrought aluminium alloys third with BD20 million.

According to the report, the top 10 countries accounted for 72% of the value of imports, with the remaining countries accounting for 28%.

China ranked first with BD49 million, followed by Brazil with BD45 million and Saudi Arabia with BD31 million.

Non-agglomerated iron ores and concentrates was the top product imported into Bahrain with a total value of BD43 million, while Aluminum oxide was second with BD28 million, and four-wheel drive cars third with BD18 million.

The total value of re-exports decreased by 29% to reach BD53 million during January 2021, compared with BD74 million for the same month of the previous year.

The top 10 countries accounted for 88% of the re-exported value, while the remaining countries accounted for 12%. Saudi Arabia ranked first with BD14 million, followed by Oman with BD10 million, and the UAE with BD9 million.