Bahrain exports $2.5bn worth of products of national origin during Q2 2021
INDUSTRIAL NEWS
Bahrain’s value of exports of national origin increased by 75% to BD943 million ($2.5 billion) during the second quarter of 2021, compared to BD540 million for the same quarter the previous year.
The value of imports increased by 7%, reaching BD1.249 billion during second quarter 2021 compared to BD1.168 billion for the same quarter the previous year. The top 10 countries accounted for 69% of the value of imports, with the remaining countries accounting for 31%, according to the Information & eGovernment Authority (iGA).
According to the report, Brazil ranked first when it came to imports to Bahrain, with a total of 181 million, China was second with BD159 million, and the Kingdom of Saudi Arabia was third with BD85million.
Non-agglomerated iron ores and concentrates as the top product imported into Bahrain with a total value of BD224 million, while Aluminum oxide was second with BD79 million, and four-wheel drive cars third with BD41 million.
The top 10 countries in terms of the value of exports of national origin purchased from Bahrain accounted for 71% of the total value, with the remaining countries accounting for 29%.
The Kingdom of Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD167 million from Bahrain. Meanwhile, the UAE was second with BD127 million and the US third with BD88 million.
Agglomerated iron ores and concentrates as the top products exported during second quarter 2021 with BD251 million, unwrought aluminum alloys were second with a value of BD201 million, and semi-finished iron and steel third with BD53 million.
The total value of re-exports increased by 15% to reach BD164 million second quarter 2021, compared to BD143 million for the same quarter of the previous year. The top 10 countries accounted for 86% of the re-exported value, while the remaining countries accounted for the 14%. The United Arab Emirates ranked first with BD50 million, the kingdom of Saudi Arabia second with BD42 million, and Singapore third with BD14 million.
Four-wheel drive cars emerged as the top product re-exported from Bahrain with BD21 million, gold ingots came in second place with BD19 million, and parts for aircraft engines third with BD14 million.
The trade balance, the difference between exports and imports, recorded a deficit totaling BD141 million during second quarter 2021 compared to BD485 million for the same quarter of the previous year, an improvement of the trade balance by 71%.-- TradeArabia News Service
