Bahrain recorded a fall of 14 percent in the value of its exports of national origin to 350 million Bahraini dinars ($928 million) during November 2022, compared to 406 million dinars for the same month of the previous year, the latest government data showed. This comes after Bahrain’s third-quarter gross domestic product increased to 4.2 percent year-on-year, according to the finance ministry. Its non-oil sector has grown by 4.9 percent, the ministry said in a statement, Arab News writes.
Export
Saudi Arabia ranked first among foreign destinations, recording 75 million dinars worth of Bahraini exports, according to data released by the Information & eGovernment Authority.
The US was second with 47 million dinars while the UAE came third with 31 million dinars worth of Bahrani exports in November.
The top exported product was unwrought aluminum alloys, valued at 92 million dinars.
This was followed by agglomerated iron ores and concentrates alloyed with a value of 54 million dinars. Urea, whether or not in aqueous solution, came third with 28 million dinars.
Re-export
The total value of re-exports, however, increased by 30 percent to reach 64 million dinars during November over 49 million dinars recorded during the same month last year.
The top 10 countries accounted for 90 percent of the re-exported value, while the remaining countries accounted for 10 percent. The UAE ranked first with 14.1 million dinars, Saudi Arabia came second with 14 million dinars, and Singapore was in the third position with 7 million dinars.
In the re-exports category, parts for airplanes were the top product from Bahrain – valued at 10 million dinars, while wristwatch non-precious metal came in second place with 4 million dinars. Other mountings, fittings and the like for vehicles came third with 3 million dinars.
Import
In regards to the value of imports, it decreased by 3 percent, reaching 440 million dinars during November in comparison to 453 million dinars for the same month last year. The top 10 countries accounted for 70 percent of the value of imports, while the remaining countries accounted for 30 percent.
China ranked first when it came to imports with a total value of 57 million dinars. It was followed by the UAE and Brazil with 45 million dinars and 44 million dinars worth of exports, putting them in the second and third positions, respectively.
Non-agglomerated iron ores and concentrates emerged as the top product imported into Bahrain with a total value of 50 million dinars, while aluminum oxide was second with 34 million dinars. Gold ingots came third with 18 million dinars worth of imports.
As for the trade balance, which is considered as the difference between exports and imports, Bahrain recorded a deficit of 26 million dinars in November of 2022, compared to a surplus of 2 million dinars, iGA data showed.
