The Information & eGovernment Authority (iGA) has released its Foreign Trade report of February 2024, 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 9%, reaching BD475 million during February 2024 in comparison with BD435 million for the same month in 2023. The top 10 countries for imports marked 67% of the total value of imports.
According to the report, China ranked first for imports to Bahrain, with a total of BD67 million (14%), followed by Brazil being second with BD46 million (10%), and the United Arab Emirate (UAE) as third with BD40 million (8%).
Non-Agglomerated Iron Ores and Concentrates were marked as the top product imported to Bahrain with a total value of BD58 million (12%), while Parts for Aircraft Engines was second with BD38 million (8%), followed by Other Aluminum Oxide being the third with BD22 million (5%).
On the other hand, the value of Exports of Products with National Origin market increased by 17% to a value of BD336 million during February, compared to BD287 million for the same month in 2023. The top 10 countries accounted for 74% of the total export value.
Saudi Arabia ranked first among countries for the exports of Products with National Origin with BD93 million (28%). The UAE was second with BD43 million (13%) and the United States of America (USA) was third with BD31 million (9%).
Unwrought Aluminum Alloys were marked as the top products exported during 2024 with BD92 million (27%), followed by Agglomerated Iron Ores and Concentrates Alloyed being the second with a value of BD70 million (21%) and Processed Cheese Not Grated or Powdered third with BD16 million (5%).
The total value of re-exports increased by 0.01% to reach BD63.07 million during February 2024, compared to BD63.06 million for the same month in 2023. The top 10 countries in Re-exports accounted for 84% of the re-exported value. The UAE ranked first with BD18 million (29%), followed by Saudi Arabia as second with BD14 million (23%), and France third with BD5 million (7%).
As per the report, Turbo-Jets was the top product re-exported from Bahrain with a value of BD9 million (15%), followed by Gold Ingots BD4 million (7%), and Four Wheel Drive came third with BD3 million (4%).
As for the Trade Balance, which represents the difference between exports and imports, the deficit amounted to BD75 million dinars in February, compared to a deficit of BD85 million in February 2023.
BNA(R)
