Bahraini origin exports jump 9% in first quarter

During the quarter, Saudi Arabia was the top importer of Bahraini products

  
Image used for illustrative purpose. Bahrain. Mosque and modern skyline of Manama.

Image used for illustrative purpose. Bahrain. Mosque and modern skyline of Manama.

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MANAMA: Bahrain’s national origin exports for the first three months of the year increased by nine per cent to BD587 million compared with BD538m for the same quarter of the previous year, shows the latest report from the Information and eGovernment Authority (iGA).

The report that includes data on balance of trade, imports, exports and re-exports (national origin) said during the period from January to March, the top 10 trading partners accounted for 82pc of the value of the kingdom’s national origin exports.

During the quarter, Saudi Arabia was the top importer of Bahraini products, with a value of BD139m, followed by the UAE with BD95m and the US in third place with BD74m, the iGA said.

Agglomerated iron ores and concentrates was the top product category exported from the kingdom with a value of BD83m followed by aluminium wires with a value of BD44m and unwrought aluminium alloys in third place accounting for BD26m.

The report found that the value of re-exports increased by 66pc to BD196m during the quarter compared with BD118m for the same quarter of the previous year, with the top 10 trading partners accounting for 84pc of the re-exported value.

Saudi Arabia was the leading market for re-exports from Bahrain accounting for a value of BD50m, followed by the UAE with BD44m and China coming third with BD26m.

Four-wheel drive cars emerged as the top product category re-exported from Bahrain with a value of BD24m, agglomerated iron ores and concentrates came in second place netting BD21m followed by parts for piston engines in third place with BD19m.

The report said value of imports decreased by 11pc to BD1.157 billion during the quarter compared with BD1.293bn for the same period of the previous year with the top 10 trading partners accounting for 67pc of the imports value.

According to the report, China was ranked as the top exporter to Bahrain with BD158m, followed by the UAE with BD92m and Brazil in third place with BD84m.

Non-agglomerated iron ores and concentrates was the top product imported to Bahrain with a value of BD102m while aluminium oxide was in second place at BD77m and four-wheel drive cars in third place with BD52m.

The trade balance or the difference between exports and imports amounted to a deficit of BD375m, 41pc lower than BD637m for the same quarter of the previous year.

Foulath Holding and Bahrain Steel chief executive Dilip George told the Bahrain Steel Conference in March that the value of non-oil exports from Bahrain is about $6bn, and Bahrain Steel and SULB have around 25pc share in Bahrain’s non-oil exports. The iron and steel sector is also a positive net exporter for Bahrain.

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