Arab News, Tuesday, Feb 28, 2023 | Sha'ban 08, 1444
Bahrain’s exports drop 8% to $941m in January: iGA data
Bahrain:
Bahrain has seen its exports trade drop below $1
billion, with the value of products of national origin falling by 8 percent to
$941 million in January 2023, according to the latest data released by
the Information &eGovernment Authority.
With $236 million worth of exports to Saudi
Arabia, the Kingdom ranked first among the countries receiving products of
Bahraini national origin in January, followed by the US and the UAE which
imported goods worth $119 million and $95 million, respectively.
In terms of the type of goods, iGA data
showed that unwrought aluminum alloys with a $352 million value were the top
products exported during the month of January.
It was followed by iron ores and concentrate
alloyed with a combined value of $127 million. The third product was aluminum
wire not alloyed with $45 million worth of exports in January.
The total value of re-exports increased
by 7 percent to reach $153 million during January 2023 compared with $143
million recorded during the same month of the previous year.
In terms of re-exported value, the UAE was the
leading country with $50 million, followed by the Kingdom with $45 million, and
Singapore with $7 million.
Airplane spare parts were the top re-exported
products with $26 million, digital automatic data processing machines with $5.5
million and gold with $4.7 million.
The value of imports, however, increased
by 4 percent reaching $1.2 billion during January 2023, compared to $1.1 billion
for the same month of the previous year.
China ranked first when it comes to goods being
imported into Bahrain, with a total of $185 million, the UAE was second with
$116 million, and Brazil was third with $114 million.
Non-agglomerated iron ores and
concentrates emerged as the top product imported into Bahrain with a total value
of $143 million, while aluminum oxide was second with $82 million, and gold was
third with $42 million.
This resulted in the trade balance of
Bharain recording a deficit of $135 million during January, compared to a
deficit of $21 million during the same month the previous year.
In October 2022, Saudi Arabia exported $31.9
billion worth of goods against an imported value of $16.4 billion, resulting in
a positive trade balance of $15.5 billion, according to the data
visualization site Observatory of Economic Complexity.