Value of Bahrain local product exports up by 8% to BD416 million

TDT | Manama                          

The Daily Tribune – www.newsofbahrain.com

Bahrain’s value of exports of national origin has increased by 8% to reach BD416 million during August 2022, up from BD386 million for the same month of the previous year. The value of imports increased by 5%, reaching BD520 million during August 2022 compared with BD496 million for the same month of the previous year. This was according to the Information and eGovernment Authority (iGA) foreign trade report of August 2022, encompassing data on the balance of trade, imports, exports (national origin), and re-exports.

The trade balance, difference between exports and imports, recorded a decrease in the value of deficit totaling BD38 million during August 2022 compared with BD53 million for 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 81% of the total value, with the remaining countries accounting for 19%. Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD88 million from Bahrain. The US was second with BD57 million and the Netherlands third with BD43 million.

Unwrought aluminum alloys emerged as the top products exported during August 2022 with BD161million, agglomerated iron ores and concentrates alloyed was second with a value of BD58 million, an aluminum wire (not alloyed) third with BD19 million. According to the report, the top 10 countries accounted for 73% of the value of imports, with the remaining countries accounting for 27%. China ranked first with BD90 million, followed by Australia with BD60 million and Brazil with BD49 million.

Aluminum oxide was the top product imported into Bahrain with a total value of BD58 million, while non-agglomerated iron ores and concentrates was second with BD47 million, and parts for aircraft engines third with BD23 million.

The total value of re-exports increased by 14% to reach BD65 million during August 2022, compared with BD58 million for the same month of the previous year. The top 10 countries accounted for 83% of the re-exported value, while the remaining countries accounted for the 17%. Saudi Arabia ranked first with BD14 million, followed by the UAE with BD13 million, and Hong Kong with BD6 million.