Sunday, July 5, 2020

Bahrain exports BD176 Million Worth of Products of National Origins during MAY 2020

The Information &eGovernment Authority (iGA) issued its foreign trade report of May2020, encompassing data on the balance of trade, imports, exports (national origin), and re-exports.

The value of imports decreased by 10%, reaching BD378 million during May 2020 compared to BD419 million for the same month of the previous year. The top 10 countries accounted for 67% of the value of imports, with the remaining countries accounting for 33%.

According to the report, China ranked first when it came to imports to Bahrain, with a total of BD67 million; Australia was second with BD38 million; and the Brazil was third with BD23 million.

Aluminum oxide emerged as the top product imported into Bahrain with a total value of BD43 million, while non-agglomerated iron ores and concentrates was second with BD26 million, and four-wheel drive cars third with BD14 million.

The value of exports of national origin decreased by 16% to BD176 million during May2020, compared to BD210 million for the same month of the previous year. The top 10 countries in terms of the value of exports of national origin purchased from Bahrain accounted for 76% of the total value, with the remaining countries accounting for 24%.

The Kingdom of Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD34 million from Bahrain. Meanwhile, Netherlands was second with BD18 million and the United Arab Emirates third with BD14 million.

Unwrought aluminum (not alloyed) emerged as the top products exported during May 2020 with BD36 million, Unwrought aluminum alloys was second with a value of BD31 million and Agglomerated iron ores and concentrates third with BD25 million.

The total value of re-exports decreased by 40% to reach BD40million during May 2020 , compared to BD66 million for the same month of the previous year. The top 10 countries accounted for 95% of the re-exported value, while the remaining countries accounted for the 5%. The Kingdom of Saudi Arabia ranked first with BD15 million, China second with BD7million, and the United Arab Emirates third with BD5million.

Four-wheel drive cars is the top product re-exported from Bahrain with BD8million, Parts for aero planes came in second place with BD2.4 million, and cigarettes containing tobacco came third with BD2.2million.

The trade balance, the difference between exports and imports, recorded a deficit totaling BD162 million during May of 2020 compared to BD143 million for the same month of the previous year, an improvement of the trade balance by 13%.

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