National origin exports increase 8%: Bahrain

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MANAMA: Bahrain’s national origin exports amounted to BD416 million during August 2022, increasing by 8 per cent in value when compared with BD386m for the same month last year, shows the latest data from the Information and eGovernment Authority (iGA).

A report released by the government agency yesterday says the top 10 trading partners accounted for 81pc of the total national origin export value last month with the remaining 19pc claimed by other countries.

The report also includes data on balance of trade, imports and re-exports.

Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, accounting for a value of BD88m, followed by the US with BD57m and the Netherlands with BD43m.

Unwrought aluminium alloys emerged as the top product exported during August 2022 with BD161m. Agglomerated iron ores and concentrates were second with a value of BD58m and aluminium wire (not alloyed) third with BD19m.

The report found that the value of re-exports increased by 14pc to BD65m last month compared with BD58m in August 2021, with the top 10 trading partners accounting for 83pc of the re-exported value.

Saudi Arabia was the leading market for re-exports accounting for a value of BD14m, followed by the UAE with BD13m and Hong Kong coming third with BD6m.

Vaccines for human use emerged as the top product re-exported from Bahrain with a value of BD9m, followed by wrist watches and non-precious metals netting BD5m and ‘turbo jets of a thrust’ in third place with BD4m.

The report said value of imports increased by 5pc to BD520m during August 2022 compared with BD496m in the same month last year with the top 10 trading partners accounting for 73pc of total import value.

According to the report, China was ranked as the top exporter to Bahrain with BD90m, followed by Australia with BD60m and Brazil in third place with BD49m.

Aluminium oxide emerged as the top product imported into Bahrain with a value of BD58m while non-agglomerated iron ores and concentrates was second with BD47m and parts for aircraft engines in third place with BD32m.

The trade balance, or the difference between exports and imports, showed a decrease in the value of the deficit totalling BD38m during August 2022 from BD53m for the same month of the previous year, an improvement of 27pc.