Bahrain's manufacturing sector boosted the Gulf kingdom's export performance in 2020 driving a 12 percent surge in national origin exports in the fourth quarter, the country's investment promotion agency said.

The Economic Development Board (EDB) said on Sunday that unwrought aluminium alloys emerged as the top product exported from Bahrain during fourth quarter of 2020 followed by agglomerated iron ores and concentrates alloyed, and Unwrought aluminium (not alloyed).

Bahrain's national manufacturer, Alba, is the largest single-site smelter in the world outside of China, producing at full capacity more than two percent of global output.

Ali Al Mudaifa, Executive Director - Investment Origination at EDB, said: "As well as unparalleled access to GCC [Gulf Cooperation Council] markets, manufacturers in Bahrain enjoy duty free trade through FTAs [Free Trade Agreements] with 22 countries around the world, including the first ever US FTA with a GCC member - a critical market for midstream and downstream aluminium companies."

Bahrain also hosts the regional headquarters of multinational manufacturing and logistics giants including Mondelez, Reckitt Benckiser and DHL, and offers direct access to the GCC's largest consumer market in Saudi Arabia.

"With aluminium products featuring among our top exports during the fourth quarter of 2020, it is clear that our economic diversification efforts in this area are paying off," Al Mudaifa added.

Bahrain-GCC trade reached $5.7 billion in 2020, accounting for 25 per cent of Bahrain's 2020 global bilateral trade of $20.8 billion.

Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing $337 million from Bahrain, followed by the United States at second place with $138 million and the UAE at third with $135 million, the statement noted.

(Writing by Syed Ameen Kader; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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