Bahrain imports have seen a 15 percent increase, reaching BD535 million ($1.42 billion) compared to BD465 million ($1.23 billion) in the same month of 2023. The top 10 countries accounted for 69 percent of the total import value.
This is according to a recent report from the Foreign Trade report for January has been released by the Information & eGovernment Authority (iGA). The report covers various aspects, including Trade Balance, Imports, Exports of products with national origin, and Re-exports.
China takes the lead in Bahrain’s import market
Furthermore, China emerged as the leading country for imports to Bahrain, with a total value of BD79 million (15 percent). Saudi Arabia secured the second position with BD63 million (12 percent), followed by the UAE in third place with BD55 million (10 percent).
The top imported product to Bahrain was Other Aluminum Oxide, with a total value of BD46 million (9 percent). Non-Agglomerated Iron Ores and Concentrates Alloyed came in second with BD24 million (4.4 percent), while Smartphones ranked third with BD19 million (3.5 percent).
On the other hand, the value of Exports of Products with National Origin experienced a 2 percent decrease, totaling BD350 million ($928.49 million) in January, compared to BD357 million ($946.99 million) in the same month of 2023. The top 10 countries accounted for 77 percent of the total export value.
Read more: Bahrain’s imports surge to $1.4 billion
The Information &eGovernment Authority (iGA) has released its Foreign Trade report of January 2024, which encompasses data on Trade Balance, Imports, Exports of products with national origin, and Re-exports. pic.twitter.com/VdHU1JuhEC
— iGA Bahrain (@iGABahrain) February 26, 2024
Saudi Arabia held the first position among countries for the exports of Products with National Origin, with a value of BD99 million (28 percent). Moreover, the UAE followed in second place with BD53 million (15 percent), and the United States (U.S.) ranked third with BD26 million (7 percent).
Agglomerated Iron Ores and Concentrates Alloyed were the top products exported in 2024, with a value of BD94 million (27 percent). Unwrought Aluminum Alloys ranked second with a value of BD68 million (19 percent), while Unwrought Aluminum Not Alloyed came in third with BD19 million (6 percent).
Re-exports surge
The total value of Re-exports increased by 15 percent to reach BD67 million ($177.72 million) in January 2024, compared to BD58 million in the same month of 2023. The top 10 countries accounted for 88 percent of the re-exported value, with the UAE ranking first at BD22 million (34 percent), followed by Saudi Arabia in second place with BD17 million (26 percent), and Singapore in third place with BD7 million (10 percent).
According to the report, Turbo-Jets were the top product re-exported from Bahrain, with a value of BD7 million (11 percent). This was followed by Four Wheel Drive with BD5 million (7 percent), and Smartphones ranking third with BD3 million (5 percent).
Regarding the Trade Balance, which represents the difference between exports and imports, there was a deficit of BD118 million in January, compared to a deficit of BD51 million in January 2023.
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