Bahrain’s non-oil exports (National Origin) witnessed a positive trend, increasing by 4 percent to reach BHD337 million($894.31 million) in July 2024, compared to BHD323 million in July 2023, a new report suggests.
The Information & eGovernment Authority (iGA) has released its July 2024 Foreign Trade report, providing a comprehensive overview of Bahrain’s trade performance.
According to the paper, the top 10 export destinations accounted for 68 percent of the total export value.
Saudi Arabia topped the list of export destinations with BHD61 million (18 percent). The United States (U.S.) came in second with BHD28 million (8 percent), followed by the UAE with BHD25 million (7 percent).
“Agglomerated Iron Ores and Concentrates Alloyed” emerged as the top export product, valued at BHD83 million (25 percent). Unwrought Aluminum Alloys followed with BHD77 million (23 percent), and Unwrought Aluminum not Alloyed secured the third position with BHD18 million (5 percent).
China tops import partners in July
Non-oil imports saw a 5 percent increase in July 2024, reaching BHD464 million compared to BHD441 million in the same month of 2023. The top 10 import sources accounted for a significant 70 percent of the total import value.
China emerged as the leading import partner, contributing BHD73 million (16 percent) to Bahrain’s import basket. Australia followed closely with BHD65 million (14 percent), while Brazil secured the third position with BHD37 million (8 percent).
“Other Aluminum Oxide” emerged as the most imported product, valued at BHD66 million (14 percent). Non-Agglomerated Iron Ores and Concentrates followed with BHD42 million (9 percent), and Private Cars secured the third spot with BHD14 million (3 percent).
Read more: Bahrain exports of national origin products reach $928.49 million in January
Re-exports gain momentum
Non-oil re-exports experienced a substantial 22 percent increase, reaching BHD61 million in July 2024, compared to BHD50 million in July 2023. The top 10 re-export destinations accounted for a dominant 84 percent of the total re-exported value.
The UAE further emerged as the leading re-export destination with BHD21 million (34 percent), followed by the Kingdom of Saudi Arabia with BHD18 million (30 percent) and Germany with BHD3 million (5 percent).
Moreover, “Private Cars” emerged as the top re-exported product, valued at BHD9 million (15 percent). Gold Ingots followed with BHD6 million (10 percent), and Smartphones secured the third position with BHD3 million (5 percent).
The trade balance, which reflects the difference between exports and imports, recorded a deficit of BHD66 million in July 2024, slightly lower than the BHD68 million deficit recorded in July 2023.
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