Manama: Mahmood Rafique, Editor: The Kingdom of Bahrain reported 7% decrease in value of imports reaching BD1.191 billion during the fourth quarter of 2020 compared to BD1.282 billion for the same quarter the previous year. The top 10 countries accounted for 69% of the value of imports, with the remaining countries accounting for 31%.
According to the official statistics on trade balance, the value of exports of national origin increased by 12% to BD599 million during fourth quarter 2020, compared to BD532 million for the same quarter of the previous year. The top 10 countries in terms of the value of exports of national origin purchased from Bahrain accounted for 72% of the total value, with the remaining countries accounting for 28%.
The Information & eGovernment Authority (iGA) on Tuesday released its foreign trade report of fourth quarter 2020, encompassing data on the balance of trade, imports, exports (national origin), and re-exports.
According to the statistics, China ranked first when it came to imports to Bahrain, with a total of BD166 million, Kingdom of Saudi Arabia was second with BD96 million, and the Australia was third with BD87 million.
Aluminum oxide emerged as the top product imported into Bahrain with a total value of BD89 million, while non-agglomerated iron ores and concentrates was second with BD68 million, and four-wheel drive cars third with BD52 million.
The Kingdom of Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD127 million from Bahrain. Meanwhile, the United States of America was second with BD52 million and United Arab Emirates third with BD51 million.
Unwrought aluminum alloys emerged as the top products exported during third quarter 2020 with BD106 million, Agglomerated iron ores and concentrates alloyed was second with a value of BD71 million, and Unwrought aluminum (not alloyed) third with BD57 million.
The total value of re-exports decreased by 28% to reach BD157 million fourth quarter 2020, compared to BD220 million for the same quarter of the previous year. The top 10 countries accounted for 83% of the re-exported value, while the remaining countries accounted for the 17%. The United Arab Emirates ranked first with BD48 million, the Kingdom of Saudi Arabia second with BD43 million, and United States of America third with BD10 million.
Four-wheel drive cars emerged as the top product re-exported from Bahrain with BD29 million, agglomerated iron ores and concentrates alloyed came in second place with BD10 million, and parts for airplanes came third with BD7 million.
The trade balance, the difference between exports and imports, recorded a deficit totaling BD435 million during fourth quarter 2020 compared to BD530 million for the same quarter of the previous year, an improvement of the trade balance by 18%.
