Export of products of national origins reach BD1.013 billion in Q4
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
The Information &eGovernment Authority (iGA) has published its Foreign Trade report of Q4 2023, which encompasses data on Trade Balance, Imports, Exports of products with national origin, and Re-exports.
As per the report, the value of imports has increased by 5%, reaching to BD1.476 billion during Q4 2023 in comparison with BD1.410 billion for the same quarter in 2022.
The top 10 countries for imports marked with 69% of the total value of imports.
According to the report, China ranked first for imports to Bahrain, with a total of BD207 million, followed by the Brazil being the second with BD136m, and The United Arab Emirate as a third with BD119m.
Agglomerated Iron Ores and Concentrates Alloyed marked as the top product imported to Bahrain with a total value of BD160m, while Other Aluminum Oxide was second with BD110m, followed by Parts for Aircraft Engines being the third with BD42m.
On the other hand, the value of Exports of Products with National Origin marked a decrease by 10% with a value of BD1.013 billion during Q4 2023, compared to BD1.121 billion for the same quarter in 2022.
The top 10 countries accounted for 69% of the total export value.
The Kingdom of Saudi Arabia ranked first among countries for the exports of Products with National Origin with BD225m.
The United Arab Emirate was second with BD126m and the United States of America was third with BD97m.
Unwrought Aluminum Alloys marked as the top products exported during Q4 2023 with BD226m, followed by Agglomerated Iron Ores and Concentrates Alloyed being the second with a value of BD201m and Unwrought Aluminum Not Alloyed third with BD59m.
The total value of Re-exports decrease by 6% to reach BD188m during Q4 2023, compared to BD200m for the same quarter in 2022.
The top 10 countries in Re-exports accounted for 81% of the re-exported value.
The United Arab Emirate ranked first with BD52million, followed by Kingdom of Saudi Arabia as second with BD44m, and Luxembourg third with BD10.13m.
As per the report, Turbo-Jets was the top product re-exported from Bahrain with a value of BD25m, followed by Four Wheel Drive BD12m, and Private Cars came third with BD8m.
As for the Trade Balance, which represents the difference between exports and imports, the deficit amounted to BD276m dinars in Q4 2023, Compared to a deficit of 88m dinars in Q4 2022, which led to an increase in the deficit by 212%.
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