The total value of Bahrain’s re-exports increased by three per cent to reach BD50 million during July 2023, compared to BD49 million for the same month in 2022.
This was revealed in the Information & eGovernment Authority’s (iGA) foreign trade report of July 2023, which encompasses data on Trade Balance, imports, exports of products of national origin, and re-exports. As per the report, the value of imports has decreased by six pc reaching BD441 million during July 2023 in comparison with BD468 million for the same month in 2022. The top 10 countries for imports accounted for 71pc of the total value of imports. According to the report, China ranked first for imports to Bahrain, with a total of BD58 million, followed by Australia, with BD53 million, and the UAE, with BD47 million.
Other aluminium oxide was marked as the top product imported to Bahrain with a total value of BD52 million, while non-agglomerated iron ore and concentrates alloyed was second with BD24 million, followed by gold ingots with BD20 million.
On the other hand, the value of exports of products with national origin marked a decrease of 23pc with a value of BD323 million during July 2023, compared to BD421 million for the same month in 2022. The top 10 countries accounted for 68pc of the total export value.
Saudi Arabia ranked first among countries with Bahraini exports of national origin (BD63 million). Meanwhile, the UAE was second with BD38 million, and the US was third with BD28 million.
Unwrought aluminium alloys were the top products exported during July 2023 with BD80 million, followed by agglomerated iron ore and concentrates alloyed, which was the second with a value of BD56 million, and unwrought aluminium not alloyed, which was third with BD19 million. The top 10 countries in re-exports accounted for 85pc of the re-exported value. UAE ranked first with BD15 million, followed by Saudi Arabia second with BD8 million, and Malaysia third with BD6 million. As per the report, turbo-propellers were the top product re-exported from Bahrain with a value of BD6 million, followed by other parts of aeroplanes, helicopters, or unmanned aircraft with BD4 million, and private cars with BD4 million.
As for the trade balance, which represents the difference between exports and imports, the deficit amounted to BD68 million dinars in July 2023 compared to the same month of the previous year, recording a surplus of BD2 million dinars, which led to an increase in the deficit by 3606pc.