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99% improvement for Bahrain's trade balance in May

June 20, 2022
government

Manama, June 20 (BNA): Bahrain's trade balance in May has improved by 99% over the same month last year.

The trade balance recorded a decrease in the value of the deficit totaling BD1 million during May 2022 compared to BD64 million for the same month of the previous year, an improvement of the trade balance by 99%, the Information & eGovernment Authority (iGA) said in its foreign trade report of May 2022.

According to the report that encompasses data on the balance of trade, imports, exports (national origin), and re-exports, the value of exports of national origin increased by 62% reaching BD460 million during May 2022, compared to BD283 million for the same month of the previous year.

The top 10 countries in terms of the value of exports of national origin purchased from Bahrain accounted for 75% of the total value, with the remaining countries accounting for 25%.

Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD90 million from Bahrain. Meanwhile, The United States was second with BD64 million and Italy third with BD 42 million.

Unwrought aluminum alloys ranked as the top products exported during May 2022 with BD189 million, Agglomerated iron ores and concentrates was second with a value of BD73 million and the third was aluminum wires with BD18 million.

The value of imports increased by 29%, reaching BD518 million during May 2022 compared to BD402 million for the same month of the previous year.

The top 10 countries accounted for 72% of the value of imports, with the remaining countries accounting for 28%.

According to the report, Australia ranked first when it comes to imports to Bahrain, with BD71 million. China was second with BD69 million and Brazil third with BD63 million.

Other Aluminum oxide ranked as the top product imported into Bahrain with a total value of BD70 million, while non-agglomerated iron ores and concentrates was second with BD54 million, and petroleum coke not calcined was third with BD18 million.

The total value of re-exports increased by 5% reaching BD57 million during May 2022, compared to BD55 million for the same month of the previous year.

The top 10 countries accounted for 86% of the re-exported value, while the remaining countries accounted for 14%. Singapore ranked first with BD15 million, the United Arab Emirates second with BD9.5 million, and Saudi Arabia third with BD8.6 million.

Parts of aircraft engines the top product re-exported from Bahrain with BD18 million, came in second place four-wheel drive cars with BD2.9 million, and gold ingots came third with BD2.3 million.

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