Bahrain's Luxury Re-Export Boom: Watches, Jewels, and Shades Shine Bright Like A Diamond

TDT | Manama     

The Daily Tribune – www.newsofbahrain.com

Bahrain's flourishing re-export market saw a significant increase in luxury goods shipments during April 2024. High-end watches, exquisite jewellery, and stylish sunglasses shines a spotlight on the island's growing status as a regional hub for luxury trade.

According to customs data, Bahrain re-exported luxury watches valued at over $3 million (approximately BD 1.15 million) in the past month. Although specific brands were not divulged, a total of 110 luxury timepieces found new homes in destinations such as Hong Kong, Japan, and Singapore. Additionally, non-luxury watches amounting to $12,000 were re-exported to the United Arab Emirates, Italy, and Saudi Arabia.

Jewellery and jewellery-related alloys were another major export category for Bahrain in April 2024, with these shipments exceeding $6.4 million in value. The country re-exported gold bullion worth $5.4 million (2 million dinars) to the UAE, and jewellery and gold parts worth over $1 million to Saudi Arabia, France, Hong Kong, and Italy.

Sunglasses also played a considerable role in Bahrain's luxury exports, with over 17,000 pairs re-exported, worth more than $565,000 (212 thousand dinars), to destinations including Saudi Arabia, China, Spain, Italy, and Qatar.

These statistics illuminate Bahrain's emerging role as a hub for the re-export of high-end goods, meeting the demands of both regional and international markets. The nation's strategic location, proficient logistics, and advantageous trade policies have established it as a favoured centre for luxury trade, advancing its economic diversification endeavours and confirming its status as a thriving regional hub.