Value of local product exports posts big rise
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
Bahrain’s value of exports of national origin has increased by 62% to reach BD478 million in April 2022, up from BD295 million for the same period of the previous year.
The value of imports increased by 10%, reaching BD505 million compared with BD457 million for the same month of the previous year.
This was according to the Information and eGovernment Authority (iGA) foreign trade report, encompassing data on the balance of trade, imports, exports (national origin), and re-exports.
The trade balance, difference between exports and imports, recorded a surplus totaling BD24 million compared to the same month of the previous year, an improvement of 122%, that is reflected positively in the value of the trade balance.
The top 10 countries in terms of the value of exports of national origin purchased from Bahrain accounted for 83% of the total value, with the remaining countries accounting for 17%. The US ranked first among countries receiving Bahraini exports of national origin, importing BD110 million from Bahrain.
Saudi Arabia was second with BD84 million and the UAE third with BD43 million. Unwrought aluminum alloys emerged as the top products exported in April 2022 with BD163 million, agglomerated iron ores and concentrates alloyed was second with a value of BD79 million, an unwrought aluminum (not alloyed) third with BD53 million.
According to the report, the top 10 countries accounted for 67% of the value of imports, with the remaining countries accounting for 33%. China ranked first with BD79 million, followed by Australia with BD43.9 million and the UAE with BD43.5 million.
Non-agglomerated iron ores and concentrates was the top product imported into Bahrain with a total value of BD68 million, while another Aluminum oxide was second with BD38 million, and four-wheel drive cars third with BD18 million.
The total value of re-exports decreased by 3% reaching BD51 million during April 2022, compared to BD53 million for the same month of the previous year. The top 10 countries accounted for 84% of the re-exported value, while the remaining countries accounted for the 16%.
Saudi Arabia ranked first with BD13 million, followed by the UAE with BD9 million, and Hong Kong with BD6 million. Parts of aircraft engines were the top product re-exported from Bahrain with BD6 million, private cars were second with BD4 million, and wrist watches control third with BD3 million.