The value of Bahrain’s imports increased by 5% to BD1.431 billion ($3.796 billion) during the first quarter of 2023, compared to BD1.363 billion for Q1 2022.
Article continues below
>
The top 10 countries exporting to Bahrain accounted for 68% of the value of imports, said an Information &eGovernment Authority (iGA) report.
According to the report, China ranked first in imports to Bahrain, with a total of BD199 million, UAE was the second with BD146 million, and Brazil third with BD117 million.
Non-agglomerated iron ores and concentrates emerged as the top product imported into Bahrain with a total value of BD136 million, while aluminum oxide was second with BD100 million, and gold ingots third with BD62 million.
The value of exports of national origin decreased by 20% to BD1.004 billion during the quarter, compared to BD1.254 billion for Q1 2022. The top 10 countries in terms of the value of exports of national origin accounted for 73% of the total value.
Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD266 million worth goods from Bahrain. The UAE was second with BD98 million and the US third with BD93 million.
Unwrought aluminum alloy was the top product exported during Q1 with BD306 million, agglomerated iron ores and concentrate alloy was second with a value of BD153 million and aluminum wire not alloyed third with BD55 million, the report said.
The total value of re-exports increased by 17% to reach BD186 million during the first quarter of 2023, compared to BD159 million for the same quarter of the previous year. The top 10 countries accounted for 84% of the re-exported value. The UAE ranked first with BD59 million, Saudi Arabia second with BD45 million, and Singapore third with BD14 million.
Airplane parts were the top product re-exported from Bahrain with BD29 million, four-wheel drive vehicles came in second with BD11 million, and wristwatches and non-precious metal came third with BD7 million.
Bahrain recorded BD240 million deficit in trade balance in the quarter, compared to a surplus of BD50 million, during the same period. ■