The Information &eGovernment Authority (iGA) has published its foreign trade report of April, 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 3%, reaching to BD523 million during April in comparison with BD505 million for the same month in 2022. The top 10 countries for imports marked with 72% of the total value of imports, while the remaining countries accounted for 28%.
According to the report, Brazil ranked first for imports to Bahrain, with a total of BD79 million, followed by China being the second with BD61 million, then Australia as a third with BD54 million.
Non-Agglomerated Iron Ores and Concentrates marked as the top product imported to Bahrain with a total value of BD94 million, while Aluminum Oxide was second with BD48 million, followed by Gold Ingots being the third with BD16 million.
On the other hand, the value of exports of products with national origin marked a decrease by 37% with a value of BD303 million during April 2023, compared to BD478 million for the same month in 2022. The top 10 countries accounted for 73% of the total value, while the remaining countries accounting for 27%.
Saudi Arabia ranked first among countries Bahraini exports of national origin BD88 million from Bahrain. Meanwhile, the United States of America was second with BD32 million and United Arab Emirate third with BD29 million.
Unwrought Aluminum Alloys marked as the top products exported during April with BD96 million, followed by Agglomerated Iron Ores and Concentrates Alloyed being the second with a value of BD50 million and Aluminum Wire Not Alloyed third with BD16 million.
The total value of re-exports increased by 30% to reach BD67 million during April 2023, compared to BD51 million for the same month in 2022. The top 10 countries in re-exports accounted for 91% of the re-exported value, while the remaining countries accounted for the 9%. The United Arab Emirate ranked first with BD19 million, followed by Saudi Arabia second with BD13 million, and Singapore third with BD8 million.
As per the report, Turbo-Jets was the top product re-exported from Bahrain with a value of BD13 million, followed by Four Wheel Drive with a value of BD5.3 million, and Wristwatches made with Precious Metal came third with BD4.9 million.
As for the trade balance, which represents the difference between exports and imports, the deficit amounted to BD152 million in April compared to the same month of the previous year, recording a surplus of BD24 million, which led to an increase in the deficit by 724%.
Source: Bahrain News Agency