The value of exports of national origin from Bahrain decreased by 1% to BD579 million ($1.530 billion) during first quarter of 2020, compared to BD587 million for the same quarter of the previous year.
The value of imports increased 8%, reaching BD1.244 billion during the quarter, compared to BD1.157 billion for the same quarter last year, said an Information & eGovernment Authority (iGA) foreign trade report for the first quarter.
The trade balance, difference between exports and imports, reached a deficit of BD438 million versus BD374 Million for the same quarter of 2019, an increase of 17%.
The top 10 countries on the list of exports from Bahrain accounted for 83% of the total value of exports. The top 10 countries on the import list accounted for 67% of the value.
IMPORTS: According to the report, China ranked first in imports to Bahrain, with a total of BD156 million; Brazil came second with BD97 million and Saudi Arabia was third with BD94 million.
Non-agglomerated iron ores and concentrates were the top product imported into Bahrain with a total value of BD90 million, while aluminum oxide was second with BD88 million, and four-wheel drive cars third with BD50 million.
EXPORTS: Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD163 million from Bahrain. The UAE was second with BD64 million and the US came third with BD57 million.
Agglomerated iron ores and concentrates emerged as the top products exported during first quarter 2020 with BD65 million, unwrought aluminum (not alloyed) was second with a value of BD57 million, and unwrought aluminum alloyed third with BD54 million.
RE-EXPORTS: The total value of re-exports increased by 16% to reach BD227 million in the first quarter, compared to BD196 million for the same quarter of the previous year. The top 10 countries accounted for 89% of the re-exported value. The UAE ranked first with BD64 million, Saudi Arabia second with BD51 million, and the US third with BD19 million.
Gold ingots emerged as the top product re-exported from Bahrain with BD36 million, four-wheel drive cars came in second place with BD26 million, and turbo jets came third with BD18 million.
TradeArabia News Service