New data reveals that Bahrain’s imports registered a 3 percent increase, reaching 534 million Bahraini dinars ($1.416 billion) in August 2023. This compares to BD520 million recorded for the same month in 2022.
Based on the August 2023 foreign trade report by Bahrain’s Information & eGovernment Authority (iGA), China emerged as the top importer to Bahrain, totaling BD78 million. Australia ranked second with BD48 million, followed closely by Brazil with BD47 million. The report encompasses data on Trade Balance, imports, exports of products with national origin, and re-exports.
Read more: Bahrain’s new initiative to build cutting-edge factories
The leading imported product to Bahrain was Non-Agglomerated Iron Ores and Concentrates Alloyed, amounting to a total value of BD68 million. Other Aluminum Oxide secured the second position with BD43 million, followed by Gold Ingots with BD19 million.
Moreover, the value of exports for products of national origin experienced in August a decline of 22 percent, amounting to BD324 million. This is in comparison to the same month in 2022, where exports totaled BD416 million.
Top export destinations
Among the countries receiving Bahraini exports, Saudi Arabia secured the top position with a value of BD82 million. The UAE followed closely in second place with BD41 million, while the U.S. ranked third with BD36 million.
Unwrought Aluminum Alloys was the top product exported during August 2023 worth BD90 million, followed by Agglomerated Iron Ores and Concentrates Alloyed being the second with a value of BD57 million and aluminum wire not alloyed third with BD21 million.
In addition, the total value of re-exports witnessed an 8 percent increase, reaching BD70 million. This compares to BD65 million recorded for the same month in 2022.
Also, turbo-jets emerged as the leading product re-exported from Bahrain, with a value of BD16 million. Jeep Cars followed closely behind with BD6 million.
Strong ties
On Wednesday, Bandar Al-Khorayef, Saudi’s minister of industry and mineral resources, welcomed in Riyadh Abdulla Fakhro, Bahrain’s minister of industry and commerce.Â
During the meeting, both ministers emphasized the strong fraternal relations between their countries and expressed Saudi’s commitment to enhancing collaborative efforts with Bahrain in various domains, particularly in industrial and economic integration.
Furthermore, the discussions focused on the objectives outlined in Saudi’s Vision 2030 and Bahrain Economic Vision 2030, aiming to foster industrial cooperation, capitalize on promising opportunities, and exchange expertise and best practices between the private sectors of both nations.
Additionally, the meeting highlighted the significance of boosting trade volume and non-oil exports between Saudi Arabia and Bahrain.
For more news on logistics, click here.
