The value of Bahrain’s exports of national origin decreased by 6% reaching to BD1.121 billion ($2.95 billion) during fourth quarter of 2022, compared with BD1.192 billion for the same quarter of the previous year, said the Information &eGovernment Authority (iGA).
The top 10 countries in terms of the value of exports of national origin accounted for 73% of the total value, while the remaining countries accounting for 27%, according to iGA’s foreign trade report of fourth quarter of 2022.
The Kingdom of Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD261 million from Bahrain. The United Arab Emirates was second with BD126 million and US third with BD110 million.
Unwrought aluminium alloys emerged as the top products exported during Fourth quarter 2022 with BD325 million, Agglomerated iron ores and concentrates alloyed was second with a value of BD177 million and unwrought aluminium not alloyed third with BD83 million.
The total value of re-exports increased by 29% to reach BD200 million during Fourth quarter 2022, compared with BD155 million for the same quarter of the previous year.
The top 10 countries accounted for 88% of the re-exported value, while the remaining countries accounted for the 12%.
The Kingdom of Saudi Arabia ranked first with BD45 million, The United Arab Emirates second with BD41 million, and Singapore third with BD30 million.
Parts for airplanes the top product re-exported from Bahrain with BD44 million, wristwatch nonprecious meta came in second place with BD13 million, and gold ingots came third with BD9 million.
The value of imports increased by 0.3%, reaching to BD1.410 billion during Fourth quarter 2022 compared to BD1.406 billion for the same quarter of the previous year.
The top 10 countries accounted for 69% of the value of imports, while the remaining countries accounting for 31%.
According to the report, China ranked first when it came to imports with a total value of BD183 million, United Arab Emirates was the second with BD133 million, and Brazil was the third with BD131 million.
Non-agglomerated iron ores and concentrates emerged as the top product imported into Bahrain with a total value of BD153 million, while aluminium oxide was second with BD97 million, and gold ingots third with BD47 million.
As for the trade balance, which is considered as the difference between exports and imports, recorded a deficit of BD88 million during fourth quarter 2022 compared to a deficit of BD59 million for the same quarter of the previous year, with a growth of 50%. – TradeArabia News Service