This News is Property off: Zawya
Parts for airplanes was the top product re-exported from Bahrain.
Bahrain’s re-exports increased by 17 per cent to BD186 million during the first quarter of 2023 compared to BD159m for the same quarter of the previous year, shows the latest data from the Information and eGovernment Authority (iGA).
The report, which also includes data on balance of trade, imports and national origin exports, says the top 10 trading partners accounted for 84pc of the total national origin export value last month with the remaining 16pc claimed by other countries.
The UAE was the leading market for re-exports accounting for a value of BD59m, followed by Saudi Arabia with BD45m and Singapore coming third with BD14m.
Parts for airplanes was the top product re-exported from Bahrain with BD29m, four-wheel drive came in second place with BD11m, and wristwatches came third with BD7m.
National origin exports amounted to BD1.004 billion during the first quarter of 2023, decreasing by 20pc in value when compared with BD1.254bn for the same quarter of 2022.
The top 10 countries in terms of the value of exports of national origin accounted for 73pc of the total value, while the remaining countries accounting for 27pc.
Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, accounting for a value of BD266m, followed by the UAE with BD98m and the US with BD93m.
Unwrought aluminium alloys emerged as the top product exported during the quarter with BD306m. Agglomerated iron ores and concentrates were second with a value of BD153m and unwrought aluminium not alloyed was third with BD55m.
The report said the value of imports increased by 5pc to BD1.431bn during the first quarter of 2023 compared with BD1.363bn in the same quarter of 2022 with the top 10 trading partners accounting for 68pc of total import value.
According to the report, China was ranked as the top exporter to Bahrain with BD199m, followed by the UAE with BD146m and Brazil in third place with BD117m.
Non-agglomerated iron ores and concentrates emerged as the top product imported into Bahrain with a value of BD136m while aluminium oxide was second with BD100m and gold ingots in third place with BD62m.
The trade balance, or the difference between exports and imports, showed a 574pc increase in the value of the deficit totalling BD240m during Q1-2023 when compared with a surplus BD50m for the same quarter of 2022.