Bahraini imports drop 11%

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MANAMA: Bahrain has reported an 11 per cent drop in the value of imports for 2019 which fell to BD4.984 billion from the 2018 figure of BD5.594bn, according to data released by the Information and eGovernment Authority (iGA).

The top 10 countries – China, Australia, the UAE, Saudi Arabia, Brazil, the US, Japan, India, Germany and UK – accounted for 68pc of the value of imports, with the remaining countries accounting for 32pc, stated iGA in its foreign trade report of 2019, based on data on the balance of trade, imports, exports (national origin) and re-exports.

According to the report, China ranked first when it came to imports to Bahrain, accounting for BD777 million; Australia was second with BD352m followed by the UAE with BD349m.

Non-agglomerated iron ores and concentrates emerged as the top product imported into Bahrain with a total value of BD380m, whereas aluminium oxide came second with BD340m, and four-wheel drive cars third with BD206m.

The value of Bahraini national origin exports increased by 0.5pc to BD2.298bn during 2019, compared with BD2.286bn for the previous year.

The top 10 countries – Saudi Arabia, the US, the UAE, Oman, Egypt, the Netherlands, Kuwait, India, Turkey, and Thailand – accounted for 77pc of the total value of Bahraini origin exports with the remaining countries accounting for 23pc, said the report.

Saudi Arabia ranked first among countries receiving Bahraini exports of national origin worth BD534m.

The US was second with BD284m and the UAE third with BD272m.

According to the report, agglomerated iron ores and concentrates emerged as the top products exported during 2019 with BD421m, aluminium wire was second with a value of BD201m, and unwrought aluminium alloyed came third with BD191m.

Total value of re-exports increased by 54pc to BD794m during the fourth quarter of 2019, compared with BD515m for the same period of the previous year.

The top 10 countries accounted for 87pc of the re-exported value, the report said.

The UAE ranked first with BD268m followed by Saudi Arabia with BD229m and China with BD70m.

The iGA report said four-wheel drive cars topped the re-exported product list with BD103m, while gold ingots came in second place with BD95m, and agglomerated iron ores and concentrates third with BD79m.

The trade balance or the difference between exports and imports recorded a deficit totalling BD1.892bn during 2019 compared with BD2.793bn for the same month the previous year, an improvement of the trade balance by 32pc.

As per the Bahrain Economic Quarterly for the third quarter of 2019, Bahrain’s overall non-oil exports reached just over BD786.3m, a 6.2pc increase over the same period in 2018.

The improvement was above all led by an increase in re-exports.

Exports of national origin contracted by an annual 6pc to BD585.6m.

Re-exports posted an impressive 71pc YoY increase to BD200.7m. This is reflective of increased project activity, especially in Saudi Arabia.

Non-oil imports during the third quarter reached just under BD1.3bn, a drop of 9.8pc as compared with the same period of 2018.

Developments during the quarter are reflective of a longer-term improvement in the non-oil merchandise balance.

avinash@gdn.com.bh

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