Saturday, June 6, 2020

Bahrain exports BD579 Million Worth of Products of National Origins during Q1 2020

The Information & eGovernment Authority (iGA) issued its foreign trade report of first quarter 2020, encompassing data on the balance of trade, imports, exports (national origin), and re-exports.

The value of imports increased by 8%, reaching BD1.244 billion during first quarter 2020 compared to BD 1.157billion for the same quarter 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 BD156 million, the Brazil was second with BD97 million, and Kingdom of Saudi Arabia was third with BD94 million.

Non-agglomerated iron ores and concentrates emerged as the top product imported into Bahrain with a total value of BD90 million, while Aluminum oxide was second with BD88 million, and four-wheel drive cars third with BD50 million.

The value of exports of national origin decreased by 1% to BD579 million during first quarter 2020, compared to BD587 million for the same quarter of the previous year. The top 10 countries in terms of the value of exports of national origin purchased from Bahrain accounted for 83% of the total value, with the remaining countries accounting for 17%.

The Kingdom of Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD163 million from Bahrain. Meanwhile, the United Arab Emirates was second with BD64 million and United States of America third with BD57 million.

Agglomerated iron ores and concentrates emerged as the top products exported during first quarter 2020 with BD65 million, unwrought aluminum (not alloyed) was second with a value of BD57 million, and unwrought aluminum alloyed third with BD54 million.

The total value of re-exports increased by 16% to reach BD227 million first quarter 2020, compared to BD196 million for the same quarter of the previous year. The top 10 countries accounted for 89% of the re-exported value, while the remaining countries accounted for the 11%. The United Arab Emirates ranked first with BD64 million, the Kingdom of Saudi Arabia second with BD51 million, and United States of America third with BD19 million.

Gold ingots emerged as the top product re-exported from Bahrain with BD36 million, four-wheel drive cars came in second place with BD26 million, and Turbo Jets came third with BD18 million.

The trade balance, difference between exports and imports, the value of the deficit of the trade Balance reached BD438 Million during first quarter 2020 versus BD374 Million for the same quarter of the previous year with increase of 17%.

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