The Information & eGovernment Authority (iGA) has released its Q1 2024 Foreign Trade report, which encompasses data on Trade Balance, Imports, national origin Exports and Re-exports.
As per the report, the value of non-oil imports has increased by 5%, reaching BD1497 million in Q1 2024 in comparison with BD1431 million for the same quarter in 2023. The top 10 countries for imports recorded 69% of the total value of imports.
According to the report, China ranked first for imports to Bahrain, with a total of BD211 million (14%), followed by The United Arab Emirate (UAE) with 134 million (9%) and Australia with 128 million (8.6%).
Non-Agglomerated Iron Ores and Concentrates were recorded as the top product imported to Bahrain with a total value of BD128 million (9%), followed by Other Aluminum Oxide with BD116 million (8%) and Private Cars being the third with BD53 million (4%).
On the other hand, the value of exports (National Origin) reached BD1018 million in Q1 2024. The top 10 countries accounted for 72% of the total export value.
Saudi Arabia ranked first among countries for non-oil exports (National Origin) with BD270 million (27%). The UAE was second with BD131 million (13%) and the United States of America (USA) was third with BD83 million (8%).
Unwrought Aluminum Alloys were recorded as the top products exported in Q1 2024 with BD250 million (25%), followed by Agglomerated Iron Ores and Concentrates Alloyed with a value of BD240 million (24%) and Aluminum Wire not Alloyed with BD51 million (5%).
The total value of non-oil Re-exports increased by 11% to reach BD206 million during Q1 2024, compared to BD186 million for same quarter in 2023. The top 10 countries in Re-exports accounted for 86% of the re-exported value. The UAE ranked first with BD78 million (38%) followed by Saudi Arabia with BD44 million (21%) and Singapore with BD21 million (10%).
As per the report, Turbo-Jets was the top product re-exported from Bahrain with a value of BD43 million (21%), followed by Gold Ingots BD10.3 million (5%), and Four Wheel Drive came third with BD10.1 million (4.9%).
As for the Trade Balance, which represents the difference between exports and imports, the deficit recorded BD273 million dinars in Q1 2024 compared to a deficit of 241 million dinars in Q1 2023.
BNA(R)
