Bahrain’s Value Of Imports Decline By 10% In January

Bahrain’s value of imports decreased by 10 per cent as it reached BD372 million ($986.8 million) during January of 2019 versus BD412 million ($1.092 billion) for the same month of the previous year.

The top 10 countries accounted for 69 per cent of the imports value and 31 per cent for other countries, said the Foreign Trade Report of January 2019 by the Information & eGovernment Authority (iGA), which encompasses a balance of trade, imports, exports (national origin) and re-exports.

According to the report, China is ranked top among countries that export to Bahrain with BD54 million ($143.25 million); UAE came second with BD37 million ($98.15 million), whereas Saudi Arabia ranked third with BD34 million ($90.19 million).

Non-agglomerated iron ores and concentrates emerged as the top product imported to Bahrain with BD33 million ($87.54 million), while the aluminium oxide came second with BD15 million ($39.79 million). Four-wheel drive cars were the third products with BD13 million ($34.49 million) during January 2019.

The value of exported national origin products from Bahrain decreased by 5 per cent to BD168 million ($445.65 million) during January of 2019, compared to BD176 million ($466.8 million) for the same month of the previous year.

The top 10 countries accounted for 82 per cent of the exported national origin value and 18 per cent for other countries.

Saudi Arabia was ranked as top importer from Bahrain with BD34 million ($90.19 million), UAE came second with BD33 million ($87.54 million), and US ranked third place with BD20 million ($53.05 million).

As for national export products, agglomerated iron ores and concentrates emerged as the top products exported in January of 2019 with BD22 million ($58.36 million); aluminium wires came second with a value of BD17 million ($45.10 million); and unwrought aluminium alloys ranked third place for exported products with BD12 million ($31.83 million).

In regards to the re-exported field, the value of re-exports increased by 49 per cent as it reached BD58 million ($153.86 million) during January of 2019 versus BD39 million ($103.46 million) for the same month of the previous year.

The top 10 countries account for 88 per cent of the re-exported value and 12 per cent for other countries.

UAE is ranked top among the countries re-exporting from Bahrain with BD17 million ($45.10 million), Saudi Arabia ranked second with BD17 million ($45.10 million), and China came third with BD5 million ($13.26 million).

Agglomerated iron ores and concentrates emerged as the top products re-exported from Bahrain with BD9 million ($23.87 million), four-wheel drive cars came as second products with BD6 million ($15.92 million) and gold ingots came as the third with BD4 million ($10.61 million).

The trade balance, the difference between exports and imports, the value of the deficit of the trade balance reached BD147 million ($389.95 million) during January this year versus BD196 million ($519.93 million) for the same month of the previous year with a decrease of 25 per cent.

Source: Trade Arabia

Comments

comments