Bahrain Exports for Products of National Origins Reached BD349 Million During October 2023
The Information & eGovernment Authority (iGA) has published its foreign trade report of October 2023, which encompasses data on Trade Balance, imports, exports of products with national origin, and re-exports.
As per the report, the value of imports has increased by 12%, reaching to BD561 million during October 2023 in comparison with BD500 million for the same month in 2022. The top 10 countries for imports marked with 70% of the total value of imports.
According to the report, China ranked first for imports to Bahrain, with a total of BD76 million, followed by Brazil being the second with 75 million, and United Arab Emirates as a third with 46 million.
Non-agglomerated iron Ores and Concentrates Alloyed marked as the top product imported to Bahrain with a total value of 89 million, while Other Aluminum Oxide was second with 41 million, followed by Smartphones being third with BD19 million.
On the other hand, the value of exports of products with national origin marked a decrease by 13% with a value of BD349 million during October 2023, compared to BD400 million for the same month in 2022. The top 10 countries accounted for 70% of the total export value.
The Kingdom of Saudi Arabia ranked first among countries Bahraini exports of national origin BD86 million from Bahrain. Meanwhile, The United Arab Emirates was second with BD32 million and the United States of America third with BD31 million.
Unwrought Aluminum Alloys marked as the top products exported during October 2023 with BD78 million, followed by Agglomerated Iron Ores and Concentrates Alloyed being the second with a value of BD73 million and Unwrought Aluminum not alloyed third with BD21 million.
The total value of re-exports decreases by 17% to reach BD68 million during October 2023, compared to BD83 million for the same month in 2022. The top 10 countries in re-exports accounted for 87% of the re-exported value. The United Arab Emirates ranked first with BD20 million, followed by Kingdom of Saudi Arabia second with BD15 million, and Singapore third with BD6 million.
As per the report, Turbo-Jets was the top product re-exported from Bahrain with a value of BD10 million, followed by Four Wheel Drive BD5 million, and Other parts of aeroplanes, helicopters or unmanned aircraft came third with BD3 million.
As for the trade balance, which represents the difference between exports and imports, the deficit amounted to BD143 million dinars in October 2023 compared to it in the same month of the previous year, recording a surplus of BD17 million dinars, which led to an increase in the deficit by 735%.
