Bahrain’s re-exports increase by 15%

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Bahrain’s re-exports increased by 15 per cent to BD67 million during January 2024, compared to BD58m for the same month in 2023, shows the latest data from the Information and eGovernment Authority.

The foreign trade report for the first month of the year, which also includes data on balance of trade, imports and national origin exports, says with the top 10 countries accounting for 88pc of re-exported value with the remaining 12pc claimed by other countries.

Emerging as Bahrain’s top re-export destination, the UAE took a total of BD22m worth of products (34pc), while Saudi Arabia was second with BD17m (26pc) and Singapore was third with BD7m (10pc).

Turbo-jets was the top product re-exported from Bahrain with a total value of BD7m (11pc), whereas four wheel drives was second with BD5m (7pc), and smartphones was third with BD3m (5pc).

On the other hand, the value of exports of national origin products decreased by 2pc to BD350m during January 2024, compared to BD357m for the same month in 2023, with the top 10 countries accounting for 77pc of the total export value.

Saudi Arabia was the top export destination for Bahraini products, with a total of BD99m (28pc). The UAE was second with BD53m (15pc), and the US was third with BD26m (7pc).

The top product exported from Bahrain during January 2024 was agglomerated iron ores and concentrates alloyed, with a total value of BD94m (27pc).

Unwrought aluminium alloys was second with a value of BD68m (19pc), and unwrought aluminum not alloyed was third with BD19m (6pc).

As per the report, the value of imports increased by 15pc to BD535m during January 2024 in comparison with BD465m for same month in 2023. The top 10 countries for imports marked with 69pc of the total value of imports.

China ranked first for imports to Bahrain, with a total of BD79m (15pc), followed by Saudi Arabia with BD63m (12pc), and the UAE in third place with BD55m (10pc).

Other aluminium oxide ranked as the top product imported to the kingdom with a total value of BD46m (9pc), while non-agglomerated iron ores and concentrates alloyed was second with BD24m (4.4pc), followed by smartphones in third place with BD19m (3.5pc).

As for the trade balance, or the difference between exports and imports, it showed an increase in the value of the deficit to BD118m during January 2024 when compared with a deficit of BD51m in January 2023.