Bahrain local product exports value down

TDT | Manama                                        

The Daily Tribune – www.newsofbahrain.com   

Bahrain’s value of exports of national origin has decreased by 8% to reach BD357 million during January 2023, down from BD387 million for the same month of the previous year.

The value of imports increased by 4%, reaching BD465 million during January 2023 compared with BD449 million for the same month of the previous year.

This was according to the Information and eGovernment Authority (iGA) foreign trade report of January, encompassing data on the balance of trade, imports, exports (national origin), and re-exports.

The trade balance, the difference between exports and imports, recorded a deficit totaling BD51 million during January of 2023 compared with BD8 million for the same month of the previous year, an improvement of 570 %.

That is reflected negatively 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 77% of the total value, with the remaining countries accounted for 23%.

Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD89 million from Bahrain. The US was second with BD45 million and the UAE third with BD36 million.

Unwrought aluminum alloys emerged as the top products exported during January 2023 with BD133 million, agglomerated iron ores and concentrates alloyed was second with a value of BD48 million, and aluminum wire not alloyed third with BD17 million.

According to the report, the top 10 countries accounted for 68% of the value of imports, with the remaining countries accountig for 32%. China ranked first with BD70 million, followed by the UAE with BD44 million, and Brazil with BD43 million.

Non-agglomerated iron ores and concentrates was the top product imported into Bahrain with a total value of BD54 million, while aluminum oxide was second with BD31 million, and gold ingots third with BD16 million.

The total value of re-exports increased by 7% to reach BD58 million during January 2023, compared with BD54 million for the same month of the previous year.

The top 10 countries accounted for 87% of the re-exported value, while the remaining countries accounted for the 13%. The UAE ranked first with BD19 million, followed by Saudi Arabia with BD17 million, and Singapore with BD3 million.