Finance & Capital Market

Bahrain-origin exports rise 6pc to top $1.5bn in Q2

The value of Bahrain’s exported national origin products increased by 6 per cent in the second quarter (Q2) of the year, reaching BD595 million ($1.56 billion) versus BD561 million for Q2 2018, said the iGA in a new report.

The value of Bahrain’s exported national origin products increased by 6 per cent in the second quarter (Q2) of the year, reaching BD595 million ($1.56 billion) versus BD561 million for the same quarter of the previous year, said the Information & eGovernment Authority (iGA) in a new report.

 The top ten countries account for 78 per cent of the exported national origin value and 22 per cent for other countries, according to the iGA’s foreign trade report for the second quarter 2019.

Saudi Arabia was ranked as the first country importing from Bahrain with BD145 million, the US second with BD84 million and UAE comes third place with BD65 million.

As for national export products, agglomerated iron ores and concentrates emerged as the top products exported in second quarter 2019 with BD132 million; unwrought aluminium alloys were positioned second products imported with a value of BD61 million; and aluminium wire stood third place for exported products with BD50 million.

In regards to the re-exported field, the value of re-exports increased by 58 per cent as it reached BD180 million during second quarter 2019 versus BD114 million for the same quarter of the previous year. The top ten countries account for 88 per cent of the re-exported value and 12 per cent for other countries.

UAE was ranked as the first country to re-export from Bahrain with BD52 million, KSA ranked as the second with BD51 million, and China as the third with BD20 million.

Four-wheel drive cars emerged as the top product re-exported from Bahrain with BD21.8 million, gold ingots came as second products with BD21.6 million, and agglomerated iron ores and concentrates came as the third with BD16.4 million.

The trade balance, difference between exports and imports, the value of the deficit of the trade Balance reached BD492 million during second quarter 2019 versus BD745 million for the same quarter of the previous year with decrease of 34 per cent.

The value of imports decreased by 11 per cent as it reached BD1.266 Billion during second quarter 2019 versus BD1.420 Billion for the same quarter of the previous year, while the top ten countries account for 68 per cent of the imports value and 32 per cent for other countries.

According to the report, China was ranked as the first country that exports to Bahrain with BD171 Million, Australia as the second with BD104 Million whereas the Brazil ranked third with BD104 Million.

Non- agglomerated iron ores and concentrates emerged as the top product imported to Bahrain with BD125 million, while the aluminium oxide as the second with BD94 million. Four-wheel drive cars were third listed products imported with BD50 million during second quarter 2019. – TradeArabia News Service