The value of Bahrain’s exports of national origin decreased by 8% reaching to BD357 million ($941 million) during January 2023, compared with BD387 million for the same month of the previous 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 accounted for 77% of the total value, while the remaining countries accounting for 23%, according to iGA’s foreign trade report of January 2023.
Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD89 million from Bahrain. The US was second with BD45 million and United Arab Emirate third with BD36 million.
Unwrought aluminium alloys emerged as the top products exported during January 2023 with BD133 million, agglomerated iron ores and concentrates alloyed was second with a value of BD48 million and aluminium wire not alloyed third with BD17 million.
The total value of re-exports increased by 7% to reach BD58 million during January 2023, compared with BD54 million for the same month of the previous year.
The top 10 countries accounted for 87% of the re-exported value, while the remaining countries accounted for the 13%.
The UAE ranked first with BD19 million, Kingdom of Saudi Arabia second with BD17 million, and Singapore third with BD3 million.
Parts for airplanes the top product re-exported from Bahrain with BD 10million, digital automatic data processing machines came in second place with BD2.1 million, and jewellery of gold came third with BD1.8 million.
The value of imports increased by 4%, reaching to BD465 million during January 2023 compared to BD449 million for the same month of the previous year.
The top 10 countries accounted for 68% of the value of imports, while the remaining countries accounting for 32%.
According to the report, China ranked first when it came to imports to Bahrain, with a total of BD70 million, the UAE was the second with BD44 million, and Brazil was the third with BD43 million.
Non-agglomerated iron ores and concentrates emerged as the top product imported into Bahrain with a total value of BD54 million, while aluminium oxide was second with BD31 million, and gold ingots third with BD16 million.
As for the trade balance, which is consider as the difference between exports and imports, recorded a deficit of BD51 million during January of 2023 compared to a deficit of BD8 million for the same month, of the previous year, with a growth of 570 %. That is reflected negatively in the values of the trade balance. – TradeArabia News Service
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