Bahrain’s value of imports decreased by 11 per cent, reaching BD4.984 billion ($13.22 billion) during 2019, compared to BD5.594 billion ($14.841 billion) for the previous year, said data from Information & eGovernment Authority (iGA).
The top 10 countries accounted for 68 per cent of the value of imports, with the remaining countries accounting for just 32 per cent, said the foreign trade report by iGA for the year 2019, encompassing data on the balance of trade, imports, exports (national origin), and re-exports.
According to the report, China ranked first when it came to imports to Bahrain, with a total of BD777 million ($2.061 billion), Australia was second with BD352 million ($933.8 million), and the UAE was third with BD349 million ($925.9 million).
Non-agglomerated iron ores and concentrates emerged as the top product imported into Bahrain with a total value of BD380 million ($1.008 billion), while aluminium oxide was second with BD340 million ($902.06 million), and four-wheel drive cars third with BD206 million ($546.5 million).
The value of exports of national origin increased by 0.52 per cent to BD2.298 billion ($6.09 billion) during 2019, compared to BD2.286 billion ($6.07 billion) for the previous year. The top 10 countries in terms of the value of exports of national origin purchased from Bahrain accounted for 77 per cent of the total value, with the remaining countries accounting for 23 per cent.
Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD534 million ($1.416 billion) from Bahrain. Meanwhile, the US was second with BD284 million ($753.48 million) and UAE third with BD272 million ($721.64 million).
Agglomerated iron ores and concentrates emerged as the top products exported during year 2019 with BD421 million ($1.116 billion), aluminium wire was second with a value of BD201 million ($533.27 million), and unwrought aluminium alloyed third with BD191 million ($506.7 million).
The total value of re-exports increased by 54 per cent to reach BD795 million ($2.10 billion) during the fourth quarter of 2019, compared to BD515 million ($1.36 billion) for the same period previous year. The top 10 countries accounted for 87 per cent of the re-exported value, while the remaining countries accounted for the 13 per cent. The UAE ranked first with BD268 million ($711.03 million), Saudi Arabia second with BD229 million ($607.5 million), and China third with BD70 million ($185.72 million).
Four-wheel drive cars emerged as the top product re-exported from Bahrain with BD103 million ($273.27 million), gold ingots came in second place with BD95 million ($252.05 million), and agglomerated iron ores and concentrates came third with BD79 million ($209.60 million).
The trade balance, the difference between exports and imports, recorded a deficit totalling BD1.892 billion ($5.019 billion) during 2019 compared to BD2.793 billion ($7.41 billion) for the previous year, an improvement of the trade balance by 32 per cent, the report said. – TradeArabia News Service