Value of November local product exports down by 14%

TDT | Manama                      

The Daily Tribune – www.newsofbahrain.com   

Bahrain’s value of exports of national origin has decreased by 14% to reach BD350 million during November 2022, down from BD406 million for the same period of the previous year.

The value of imports decreased by 3%, reaching BD440 million during November 2022 compared to BD453 million for the same month of the previous year.

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

The top 10 countries in terms of the value of exports of national origin accounted for 73% of the total value, with the remaining countries accounting for 28%.

Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD75 million from Bahrain.

The US was second with BD47 million and the UAE third with BD31 million.

Unwrought aluminum alloys emerged as the top products exported during November 2022 with BD92 million, agglomerated iron ores and concentrates alloyed was second with a value of BD54 million, and and UREA, whether or not in aqueous solution third with BD 28 million.

According to the report, the top 10 countries accounted for 70% of the value of imports, with the remaining countries accounting for 30%.

China ranked first with BD166 million, followed by the UAE with BD45 million, and Brazil with BD44 million.

Non-agglomerated iron ores and concentrates emerged as the top product imported into Bahrain with a total value of BD50 million, while aluminum oxide was second with BD34 million, and gold ingots third with BD18 million.

The total value of re-exports increased by 30% to reach BD64 million during November, compared with BD49 million for the same month of the previous year.

The top 10 countries accounted for 90% of the re-exported value, while the remaining countries accounted for the 10%.

The UAE ranked first with BD14.1 million, Saudi Arabia second with BD14 million, and Singapore third with BD7 million.

Parts for airplanes the top product re-exported from Bahrain with BD 10million, wristwatch nonprecious metal came in second place with BD4 million, and other mountings fittings and the like for vehicles came third with BD3 million.

As for the trade balance, which is consider as the difference between exports and imports, recorded a deficit of BD26 million in November, compared to a surplus of BD2 million.