The Information & eGovernment Authority (iGA) has released its Foreign Trade report of January, 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 15%, reaching BD535 million during January in comparison with BD465 million for the same month in 2023. The top 10 countries for imports marked 69% of the total value of imports.
According to the report, China ranked first for imports to Bahrain, with a total of BD79 million (15%), followed by Saudi Arabia being second with BD63 million (12%), and The United Arab Emirate (UAE) as third with BD55 million (10%).
Other Aluminum Oxide was marked as the top product imported to Bahrain with a total value of BD46 million (9%), while Non-Agglomerated Iron Ores and Concentrates Alloyed was second with BD24 million (4.4%), followed by Smartphones being the third with BD19 million (3.5%).
On the other hand, the value of Exports of Products with National Origin marked a decrease by 2% to a value of BD350 million during January, compared to BD357 million for the same month in 2023. The top 10 countries accounted for 77% of the total export value.
Saudi Arabia ranked first among countries for the exports of Products with National Origin with BD99 million (28%). The UAE was second with BD53 million (15%) and the United States of America (USA) was third with BD26 million (7%).
Agglomerated Iron Ores and Concentrates Alloyed marked as the top products exported during 2024 with BD94 million (27%), followed by Unwrought Aluminum Alloys being the second with a value of BD68 million (19%) and Unwrought Aluminum Not Alloyed third with BD19 million (6%).
The total value of Re-exports increases by 15% to reach BD67 million during January 2024, compared to BD58 million for the same month in 2023. The top 10 countries in Re-exports accounted for 88% of the re-exported value. The UAE ranked first with BD22 million (34%), followed by Saudi Arabia as second with BD17 million (26%), and Singapore third with BD7 million (10%).
As per the report, Turbo-Jets was the top product re-exported from Bahrain with a value of BD7 million (11%), followed by Four Wheel Drive BD5 million (7%), and Smartphones came third with BD3 million (5%).
As for the Trade Balance, which represents the difference between exports and imports, the deficit amounted to BD118 million dinars in January, compared to a deficit of BD51 million in January 2023.
BNA(R)
