Bahrain-origin exports dip 23% to $848mln in July

PHOTO

Bahrain - The value of Bahrain’s exports of national origin for July fell 23% to BD323 million ($848 million) when compared to BD421 million ($1.1 billion) for the same period last year, said the Information &eGovernment Authority (iGA) in a new report.

The top 10 countries in terms of the value of exports of national origin purchased from Bahrain accounted for 70% of the total value, with the remaining countries accounting for 30%, according to iGA’s foreign trade report of year 2021, encompassing data on the balance of trade, imports, exports (national origin), and re-exports.

The top 10 countries in terms of the value of exports of national origin purchased from Bahrain accounted for 68% of the total export value, according to iGA’s foreign trade report for July, which encompasses data on the balance of trade, imports, exports (national origin), and re-exports.

Unwrought Aluminum Alloys marked as the top products exported during July 2023 with BD80 million, followed by Agglomerated Iron Ores and Concentrates Alloyed being the second with a value of BD56 million and Unwrought Aluminum not alloyed third with BD19 million.

On the imports scenario, iGA said its value too decreased falling by 6% to hit BD441 million for July from BD468 million last year. The top 10 countries for imports marked with 71% of the total value of imports.

As per the report, China ranked first when it came to imports to Bahrain with a total of BD58 million, followed by Australia with BD53 million, and the UAE in the third spot with BD47 million.

Other Aluminum Oxide marked as the top product imported to Bahrain with a total value of BD52 million, while Non-Agglomerated Iron Ores and Concentrates Alloyed was second with BD24 million, followed by Gold Ingots being the third with BD20 million.

The total value of re-exports increased by 3% to reach BD50 million during July 2023, compared to BD49 million for the same month in 2022. The top 10 countries in re-exports accounted for 85% of the re-exported value.

The UAE ranked first with BD15 million, followed by Kingdom of Saudi Arabia second with BD8 million, and Malaysia third with BD6 million.

As per the iGA report, turbo-propellers topped the list of products re-exported from Bahrain with a value of BD6 million, followed by Other Parts of Airplanes Helicopters (Unmanned Aircraft) at BD4 million, and Private Cars came third with BD4 million.

As for the trade balance (the difference between exports and imports), the deficit amounted to BD68 million in July compared to a surplus of BD2 million last year, which led to an increase in the deficit by 3606%, it added.