Exports touched BD160m in January

TDT I Manama

The Information and eGovernment Authority (iGA) issued its foreign trade report of January 2020, encompassing data on the balance of trade, imports, exports (national origin), and re-exports. The value of imports increased by 20 per cent, reaching BD445 million during January 2020 compared to BD372m for the same month the previous year. The top 10 countries accounted for 69pc of the value of imports, with the remaining countries accounting for 31pc.

According to the report, China ranked first when it came to imports to Bahrain, with a total of BD67m; the United States of America was second with BD35m; and the Kingdom of Saudi Arabia was third with BD32m. Non-agglomerated iron ores and concentrates emerged as the top product imported into Bahrain with a total value of BD24m, while aluminium oxide was second with BD23m, and four-wheel drive cars third with BD17m. The value of exports of national origin decreased by 5pc to BD160m during January 2020, compared to BD168m for the same month of the previous year. The top 10 countries in terms of the value of exports of national origin purchased from Bahrain accounted for 82pc of the total value, with the remaining countries accounting for 18pc.

The Kingdom ranked first among countries receiving Bahraini exports of national origin, importing BD41m from Bahrain. Meanwhile, the United Arab Emirates was second with BD22m and Indian third with BD12m. Unwrought aluminium alloys emerged as the top products exported during January 2020 with BD13m; bridges and bridges-sections was second. While aluminium wire not alloyed scored third with a value of BD12m for both. The total value of re-exports increased by 28pc to reach BD74m during January 2020, compared to BD58m for the same month of the previous year.

The top 10 countries accounted for 93pc of the re-exported value, while the remaining countries accounted for the 7pc. The United Arab Emirates ranked first with BD24m, the Kingdom of Saudi Arabia second with BD19m, and Hong Kong third with BD6m. Gold ingots emerged as the top product re-exported from Bahrain with BD17m, four-wheel drive cars came in second place with BD8m, and parts for machines of working metal came third with BD4m. The trade balance, difference between exports and imports, the value of the deficit of the trade balance reached BD211m during January of 2020 versus BD147m for the same month of the previous year with an increase of 44pc.