Bahrain national origin non-oil exports dip 6pc to $2.37bn in Q2
MANAMA, July 25, 2024
Bahrain’s non-oil exports of national origin has fallen 6% to BD894 million ($2.37 billion) in Q2 2024 compared to the same quarter in 2023. The top 10 countries accounted for 64% of the total export value.
Saudi Arabia ranked first among countries for the non-oil exports of national origin with BD201 million (22%), the Information & eGovernment Authority (iGA) said in its Q2 2024 Foreign Trade report. The US came second with BD75 million (8.4%) and the UAE third with BD73 million (8.2%).
Unwrought aluminium alloys were the top product exported in Q2 2024 with BD267 million (30%), followed by agglomerated iron ores and concentrates alloyed with BD159 million (18%) and aluminium wire not alloyed with BD49 million (5%).
Non-oil re-exports
Non-oil re-exports increased by 4% to reach BD206 million during Q2 2024, compared to BD198 million for same quarter in 2023. The top 10 countries accounted for 86% of the re-exported value. The UAE ranked first with BD58 million (28%) followed by Saudi Arabia with BD39 million (19%) and UK with BD17 million (8%).
As per the report, turbo-jets worth BD65 million (32%) were the top product re-exported from Bahrain, followed by private cars with BD11 million (5%) and four-wheel drive with BD9 million (4%).
The value of non-oil imports has decreased by 4% reaching to BD1.41 billion in Q2 2024 in comparison with BD1.47 billion for same quarter in 2023. The top 10 countries for imports recorded 68% of the total value of imports.
China Bahrain's biggest importer
China ranked first for imports to Bahrain, with a total of BD191 million (14%), followed by Brazil with BD157 million (11%) and Australia with BD112 million (8%).
Non-agglomerated iron ores and concentrates were the top product imported to Bahrain worth BD200 million (14%), followed by other aluminium oxide with BD101 million (7%) and parts for aircraft engines with BD41 million (3%).
As for the trade balance, which represents the difference between exports and imports, the deficit logged was BD310 million in Q2 2024 compared to BD322 million in Q2 2023.--TradeArabia News Service
