Bahrain national products exports hit $929m in January
MANAMA, February 26, 2024
Bahrain’s exports of products of national origin reached BD350 million ($929 million) in January, a decrease by 2% compared same month in 2023 while the value of imports increased by 15%, hitting BD535 million.
This has resulted in a negative trade balance with the deficit being BD118 million in January 2024, compared to a deficit of BD51 million in January 2023, according to the Information &eGovernment Authority (iGA), which has released its Foreign Trade report of January 2024.
The top 10 countries accounted for 77% of the total export value. The top 10 countries for imports marked with 69% of the total value of imports.
Saudi Arabia Bahrain's top export market
Saudi Arabia ranked first among countries for the exports of products of national origin with BD99 million (28%). The UAE came second with BD53 million (15%) and the US third with BD26 million (7%).
Agglomerated iron ores and concentrates alloyed were the top products exported during 2024 making BD94 million (27%), followed by unwrought aluminium alloys with BD68 million (19%) and unwrought aluminium not alloyed with BD19 million (6%).
The total value of re-exports increased by 15% to reach BD67 million during January 2024, compared to BD58 million for the same month in 2023. The top 10 countries for re-exports accounted for 88% of the re-exported value. The UAE ranked first with BD22 million (34%), followed by Saudi Arabia with BD17 million (26%), and Singapore with BD7 million (10%).
As per the report, turbo-jets were the top product re-exported from Bahrain worth BD7 million (11%), followed by four-wheel drive BD5million (7%), and smartphones with BD3 million (5%).
China Bahrain's top import market
China ranked first for imports to Bahrain, with a total of BD79 million (15%), followed by Saudi Arabia with BD63 million (12%) and UAE with BD55 million (10%).
Other aluminium oxide worth BD46 million (9%) was the top product imported to Bahrain, while non-agglomerated iron ores and concentrates alloyed came second with BD24 million (4.4%), followed by smartphones worth BD19 million (3.5%).--TradeArabia News Service
