Bahrain national product exports jump 43% to $3.59bln in Q2

PHOTO

Bahrain’s exports of national origin jumped 43% reaching BD1.351 billion ($3.59 billion) in the second quarter of 2022, compared to BD943 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 71% of the total value, with the remaining countries accounting for 29%, according to the Information & eGovernment Authority (iGA).

Saudi Arabia tops

Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD245 million worth of products from Bahrain. The US came second with BD206 million and UAE third with BD112 million.

Unwrought aluminium alloys ranked as the top products exported during second quarter 2022 with BD474 million, agglomerated iron ores and concentrates was second with a value of BD222 million and unwrought aluminium not alloyed third with BD83 million.

The total value of re-exports increased by 12% to reaching BD184 million during second quarter 2022, compared to BD164 million for the same quarter of the previous year. The top 10 countries accounted for 83% of the re-exported value, while the remaining countries accounted for the 17%. The UAE ranked first with BD41 million, Saudi Arabia second with BD35 million, and Singapore third with BD34 million.

Aircraft engine parts top re-exports

Parts for aircraft engines were the top product re-exported from Bahrain with BD29 million; in the second place came parts for wrist watches control with BD11 million, and parts for other gas turbines came third with BD10 million.

The trade balance, the difference between exports and imports, recording a decrease in the value of the deficit totaling BD63 million during second quarter 2022 compared to BD141 million for the same quarter of the previous year, an improvement of the trade balance by 55%.

The value of imports increased by 28%, reaching BD1.598 billion during second quarter 2022 compared to BD1.249 billion for the same quarter of the previous year. The top 10 countries accounted for 70% of the value of imports, with the remaining countries accounting for 30%.

China tops in imports to Bahrain

According to the report, China ranked first when it came to imports to Bahrain, with a total of BD234 million, Brazil was second with BD171 million, and Australia was third with BD160 million.

Non-agglomerated iron ores and concentrates ranked as the top product imported into Bahrain with a total value of BD209 million, while aluminium oxide was second with BD147 million, and four-wheel drive cars third with BD42 million.