Bahrain Q1 national non-oil exports surges 5pc to $2.7bn
MANAMA, May 7, 2024
Bahrain’s non-oil exports of national origin hit BD1.02 billion ($2.7 billion) in the first quarter (Q1) of 2024. The top 10 countries accounted for 72% of the total export value, the Information & eGovernment Authority (iGA) said in its Q1 2024 Foreign Trade report.
Saudi Arabia ranked first among countries for the exports with BD270 million (27%). The UAE came second with BD131 million (13%) and the US third with BD83 million (8%).
Unwrought Aluminium Alloys were the top products exported in Q1 2024 with BD250 million (25%), followed by Agglomerated Iron Ores and Concentrates Alloyed with a value of BD240 million (24%) and Aluminium Wire not Alloyed with BD51 million (5%).
Non-oil re-exports
The total value of non-oil re-exports increased by 11% to reach BD206 million during Q1 2024, compared to BD186 million for same quarter in 2023. The top 10 countries in re-exports accounted for 86% of the re-exported value. The UAE ranked first with BD78 million (38%) followed by Saudi Arabia with BD44 million (21%) and Singapore with BD21 million (10%).
As per the report, Turbo-Jets were the top product re-exported from Bahrain with a value of BD43 million (21%), followed by Gold Ingots BD10.3 million (5%), and Four-Wheel Drive came third with BD10.1 million (4.9%).
The value of non-oil imports has increased by 5% reaching to BD1.5 billion in Q1 2024 in comparison with BD1.43 billion for same quarter in 2023. The top 10 countries for imports recorded 69% of the total value of imports.
Imports to Bahrain
According to the report, China ranked first for exports to Bahrain, with a total of BD211 million (14%), followed by the UAE with BD134 million (9%) and Australia with BD128 million (8.6%).
Non-Agglomerated Iron Ores and Concentrates were the top products imported to Bahrain with a total value of BD128 million (9%), followed by Other Aluminium Oxide with BD116 million (8%) and Private Cars with BD53 million (4%).
As for the Trade Balance, which represents the difference between exports and imports, the deficit amounted to BD273 million in Q1 2024 compared to a deficit of BD241 million in Q1 2023.--TradeArabia News Service
