Bahrain national products exports hit $892m in February
INDUSTRIAL NEWS
Bahrain’s exports of products of national origin increased by 17% to BD336 million ($892 million) in February 2024, compared to BD287 million for the same month in 2023. The top 10 countries accounted for 74% of the total export value.
Saudi Arabia, with BD93 million (28%), ranked first among countries where Bahrain’s national products were exported. The UAE was second with BD43 million (13%) and the US was third with BD31 million (9%), said the Information &eGovernment Authority (iGA).
Unwrought aluminium alloys were the top exported products with BD92 million (27%), followed by agglomerated iron ores and concentrates alloyed with BD70 million (21%) and processed cheese not grated or powdered with BD16 million (5%).
Re-exports rise
The total value of re-exports increased by 0.01% to reach BD63.07 million during February 2024, compared to BD63.06 million for the same month in 2023. The top 10 countries in re-exports accounted for 84% of the re-exported value. The UAE ranked first with BD18 million (29%), followed by Saudi Arabia with BD14 million (23%), and France with BD5 million (7%).
As per the report, turbo-jets were the top product re-exported from Bahrain making BD9 million (15%), followed by gold ingots BD4 million (7%), and four-wheel drive with BD3 million (4%).
As per the report, the value of imports has increased by 9%, reaching to BD475 million during February 2024 in comparison with BD435 million for same month in 2023. The top 10 countries for imports marked with 67% of the total value of imports.
Most imports from China
China ranked first for imports to Bahrain, with a total of BD67 million (14%), followed by Brazil with BD46 million (10%), and UAE with BD40 million (8%).
Non-agglomerated iron ores and concentrates were the top products imported to Bahrain with a total value of BD58 million (12%), while parts for aircraft engines were second with BD38 million (8%), followed by other aluminium oxide with BD22 million (5%).
As for the trade balance, which represents the difference between exports and imports, the deficit amounted to BD75 million in February 2024, compared to BD85 million in February 2023.--TradeArabia News Service
