The value of Bahrain’s exports of national origin for the fourth quarter of 2023 hit BD1.013 billion ($2.67 billion), registering a 10% decline over the previous year, according to a report by the Information &eGovernment Authority (iGA).

The top 10 countries accounted for 69% of the total export value with the Kingdom of Saudi Arabia ranking first among countries for the exports of products with national origin worth BD225 million ($593 million).

It was followed by the UAE with BD126 million and then US with BD97 million, stated iGA in its Foreign Trade report of Q4 2023, which encompasses data on Trade Balance, Imports, Exports of products with national origin, and Re-exports.

Productwise, the unwrought aluminum alloys marked as the top products exported during Q4 2023 worth BD226 million, followed by agglomerated iron ores and concentrates alloyed being the second with a value of BD201 million and unwrought aluminum not alloyed third with BD59 million, stated the iGA report.

On the value of imports, iGA said it had registered an increase of 5%, reaching to BD1.476 billion during Q4 2023 in comparison with BD1.410 billion for the same quarter in 2022.

According to the report, China ranked first for imports to Bahrain, with a total of BD207 million, followed by the Brazil with BD136 million and UAE with BD119 million.

Agglomerated iron ores and concentrates alloyed marked as the top product imported to Bahrain with a total value of BD160 million, while other aluminum oxide stood second with BD110 million, followed by parts for aircraft engines worth BD42 million.

According to iGA, the total value of re-exports decrease by 6% to reach BD188 million during Q4 compared to BD200 million for the same quarter in 2022. The top 10 countries in re-exports accounted for 81% of the re-exported value.

The UAE ranked first in re-exports with BD52million, followed by Kingdom of Saudi Arabia with BD44 million and Luxembourg third with BD10.13 million.

As per the report, turbo-jets was the top product re-exported from Bahrain with a value of BD25 million, followed by four wheel drive worth BD12 million, and private cars worth BD8 million.

As for the trade balance, which represents the difference between exports and imports, iGA said the deficit amounted to BD276 million in Q4 2023, compared to a deficit of BD88 million the previous year, which led to an increase in the deficit by 212%.-TradeArabia News Service

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