Bahrain’s national product exports value hits $1.09bn in August
INDUSTRIAL NEWS
The value of Bahrain’s exports of national origin jumped 8% during August to hit BD416 million ($1.09 billion) compared to BD386 million ($1.02 billion) for the same month last year.
The top 10 countries in terms of the value of exports of national origin purchased from Bahrain accounted for 81% of the total value, with the remaining countries accounting for 19%, according to the Information & eGovernment Authority (iGA).
The Kingdom of Saudi Arabia topped the list of countries importing goods from Bahrain (worth BD88 million) followed by US with BD57 million and Netherlands with BD43 million.
Unwrought aluminum alloys emerged as the top products exported by the kingdom during August valued at BD161 million, agglomerated iron ores and concentrates came second with a value of BD58 million followed by aluminum wire (not alloyed) worth BD19 million, stated iGA in its foreign trade report of August 2022, encompassing data on the balance of trade, imports, exports (national origin), and re-exports.
Meanwhile, Bahrain's value of imports increased by 5%, reaching BD520 million during August compared to BD496 million for the same month of the previous year. The top 10 countries accounted for 73% of the value of imports, with the remaining countries accounting for 27%.
According to the report, China ranked first when it came to imports to Bahrain, with a total of BD90 million, followed by Australia (BD60 million) and Brazil (BD49 million).
Aluminum oxide emerged as the top product imported into Bahrain valued at BD58 million, while non-agglomerated iron ores and concentrates came second with BD47 million, and parts for aircraft engines third with BD23 million.
According to iGA, the total value of re-exports increased by 14% to reach BD65 million for the month, compared to BD58 million the previous year. The top 10 countries accounted for 83% of the re-exported value, while the remaining countries accounted for the 17%.
KSA ranked first with goods worth BD14 million, followed by the United Arab Emirates with BD13 million and Hong Kong with BD6 million.
Vaccines topped the re-export items list valued at BD9 million, while wrist watches and nonprecious metal came in second place (BD5 million) and Turbo jets at third place with BD4 million, stated iGA in the report. .
The trade balance, the difference between exports and imports, recording a decrease in the value of the deficit totaling BD38 million during August 2022 compared to BD53 million for the same month of the previous year, an improvement of the trade balance by 27%, it added.-TradeArabia News Service
