Bahrain's trade balance improves 8% in 2020

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Bahrain's trade balance improved by 8%, with the value of exports of national origin increasing by 4% and the value of imports decreasing by 4%, the 2020 foreign trade report issued by the Information & eGovernment Authority (iGA) shows.

The report encompasses data on the balance of trade, imports, exports (national origin), and re-exports.

"The value of imports decreased by 4%, reaching BD 4.798 billion in 2020 compared to BD 4.984 billion in the previous year. The top 10 countries accounted for 66% of the value of imports, with the remaining countries accounting for 34%," the report said.

China ranked first when it came to imports to Bahrain, with a total of BD664 million, followed by Saudi Arabia with BD352 million, and Australia with BD330 million.

Aluminium oxide emerged as the top product imported into Bahrain with a total value of BD332 million, while Non- Agglomerated iron ores and concentrates were second with BD292 million, and four-wheel drive cars third with BD175 million.

The report said the value of exports of national origin increased by 4% to BD2.387 billion in 2020, compared to BD2.298 billion in the previous year.

The top 10 countries in terms of the value of exports of national origin purchased from Bahrain accounted for 74% of the total value, with the remaining countries accounting for 26%.

Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD536 million from Bahrain. The United Arab Emirates was second with BD207 million and the U.S. third with BD201 million.

Unwrought aluminium alloyed emerged as the top products exported during the year 2020 with BD383 million, unwrought aluminium (not alloyed) was second with a value of BD361 million, and Agglomerated iron ores and concentrates third with BD257 million.

The total value of re-exports decreased by 15% to reach BD676 million in 2020, compared to BD795 million in the previous year.

The top 10 countries accounted for 87% of the re-exported value, and the remaining countries accounted for 13%. 

Saudi Arabia topped the list with BD197 million, the United Arab Emirates was second with BD178 million, and the US was third with BD63 million.

Four-wheel drive cars emerged as the top product re-exported from Bahrain with BD100 million, Gold ingots came in second place with BD54 million, and Agglomerated iron ores and concentrates came third with BD35 million.

The trade balance, the difference between exports and imports, recorded a deficit of BD1.735 billion in 2020 compared to BD1.892 billion for the same previous year, an improvement by 8%, the report said.