Bahrain’s exports of national origin products zoomed 99% to BD1.192 billion ($3.16 billion) during the fourth quarter of 2021, compared to BD599 million for the corresponding quarter of the previous year.
The top 10 countries in terms of the value of exports of national origin purchased from Bahrain accounted for 67% of the total value, with the remaining countries accounting for 33%, said the Information & eGovernment Authority (iGA) in its foreign trade report for the fourth quarter 2021, encompassing data on the balance of trade, imports, exports (national origin), and re-exports.
Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD193 million from Bahrain. Meanwhile, the US was second with BD107 million and UAE third with BD99 million.
Unwrought aluminium alloys emerged as the top product exported during third quarter 2021 with BD320 million, agglomerated iron ores and concentrates alloyed was second with a value of BD211 million, and unwrought aluminium (not alloyed) third with BD82 million.
The value of imports increased by 18%, reaching BD1.406 billion during fourth quarter 2021 compared to BD1.191 billion for the same quarter the previous year. The top 10 countries accounted for 71% of the value of imports, with the remaining countries accounting for 29%.
According to the report, China ranked first when it came to imports to Bahrain, with a total of BD204 million, Brazil was second with BD180 million and Australia was third with BD129 million.
Non-agglomerated iron ores and concentrates emerged as the top product imported into Bahrain with a total value of BD198 million, while aluminium oxide was second with BD125 million and gold jewellery third with BD37 million.
The total value of re-exports decreased by 1% to reach BD155 million fourth quarter 2021, compared to BD157 million for the same quarter of the previous year. The top 10 countries accounted for 84% of the re-exported value, while the remaining countries accounted for the 16%. The UAE ranked first with BD39 million, Saudi Arabia second with BD33 million, and Singapore third with BD16 million.
Parts for aircraft emerged as the top product re-exported from Bahrain with BD19 million, golds ingots came in second place with BD17 million, and four-wheel drive cars came third with BD8 million.
The trade balance, the difference between exports and imports, recorded a deficit totaling BD59 million during fourth quarter 2021 compared to BD435 million for the same quarter of the previous year, an improvement of the trade balance by 86%, That is reflected positively in the value of the trade balance.
-- TradeArabia News Service
Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).