Bahrain-South Korea trade volume growing steadily: BCCI report
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
Trade between Bahrain and South Korea has been growing steadily, with its volume up by 135 percent from 2017 to 2021.
This is reflected in a report titled “Trade in Focus” issued by the Studies and Initiatives Center of Bahrain Chamber for Commerce and Industry (BCCI), which offers a view of the trade relations between the two countries.
The report exhibits key trade indicators, and highlights potential sectors. Exports from Bahrain to South Korea exceeded imports for the first time in the past five years, and witnessed a 141% increase in 2021 compared to its 2020 levels.
The report indicated that in 2021, Bahrain’s top imported product was private cars, valued at $25 million, which constituted 11% of total imports. The import value of this product increased by 230% compared to the previous year.
The second most prominent imported product was other conductors over 100 V and under 11 mm wide, which also accounted for 11% of total imports and grew by 10693% compared to 2020. While the third major import was pitch coke, which accounted for 8% of the total annual imports and grew by 77%.
As for Bahrain’s exports, the report stated that Bahrain exported $177 million worth of unwrought Aluminium alloys to South Korea in 2021, making it the top exported commodity. This product accounted for 43% of total exports in 2021, and grew by 287% compared to 2020.
The second major exported product was (U, I, H) sections, partially-worked, under 80 mm high, accounting for 20% of the total annual exports and witnessing an annual growth rate of 122%.
Related Posts