Saturday 21 July 2018

Bahrain’s value of imports up 8pc in Q2

MANAMA, July 28, 2017

Bahrain’s value of imports increased by 8 per cent to BD1.275 billion ($3.38 billion) during the second quarter of 2017, compared to BD1.176 billion ($3.11 billion) for the same quarter in 2016, said a report.

The top 10 countries exporting to Bahrain accounted for 66 per cent of the imports value, said the foreign trade report by Information & eGovernment Authority (iGA). The report encompasses balance of trade, imports, exports and re-exports (national origin).

China ranked top in exports to Bahrain with BD152 million ($403.2 million); UAE came second with BD128 million ($339.5 million) whereas the US was ranked third with BD88 million ($233.4 million).

Floating or submersible drilling platforms were the top products imported to Bahrain with BD85 million ($225.4 million), while aluminium oxide was the second with BD57 million ($151.2 million). Four-wheel drive cars came as third with BD47 million ($124.6 million) in quarter.

The value of national exports increased 4 per cent to reached BD507 million ($1.34 billion) during Q2 versus BD488 million ($1.29 billion) for the same quarter of the previous year.

The top 10 countries accounted for 84 per cent of the exported national origin value. Saudi Arabia was topped the list of importers from Bahrain with BD122 million ($323.6 million), US came second with BD77 million ($204.2 million) and UAE was third with BD61 million ($161.8 million).

As for national export products, agglomerated iron ores and concentrates was the top products exported in the period with BD98 million ($259.9 million); aluminium wire were positioned second products imported with a value of BD68 million ($180.4 million); and rectangular alloyed aluminium plates stood third place for exported products with BD34 million ($90 million).

The value of re-exports decreased by 21 per cent as it reached BD125 million ($331.6 million) during the quarter versus BD159 million ($421.8 million) for the same period the previous year.

Saudi Arabia was ranked as the top country to re-export from Bahrain with BD54 million ($143.2 million), China ranked as the second with BD21 million ($55.7 million), and UAE as the third with BD15 million ($39.7 million).

Four-wheel drive cars emerged as the top product re-exported from Bahrain with BD26 million ($68.9 million), cigarettes came as second products with BD7 million ($18.57 million) and sedan cars came as the third with BD6 million ($15.9 million).

The trade balance, difference between exports and imports, the value of the deficit of the trade balance reached BD641 million ($1.70 billion) during the second quarter of 2017 versus BD529 million ($1.40 billion) for the same quarter of the previous year with an increase of 21 per cent, it stated. – TradeArabia News Service

Tags: | Bahrain | Imports | value | 8pc |

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