The Information & eGovernment Authority (iGA) has published its foreign trade report for July 2023, which encompasses data on Trade Balance, imports, exports of products with national origin, and re-exports.
As per the report, the value of imports has decreased by 6%, reaching BD441 million during July 2023 in comparison with BD468 million for the same month in 2022. The top 10 countries for imports marked with 71% of the total value of imports.
According to the report, China ranked first for imports to Bahrain, with a total of BD58 million, followed by Australia being second with BD53 million, and The UAE as third with BD47 million.
Other Aluminum Oxide marked as the top product imported to Bahrain with a total value of BD52 million, while Non-Agglomerated Iron Ores and Concentrates Alloyed were second with BD24 million, followed by Gold Ingots being third with BD20 million.
On the other hand, the value of exports of products with national origin marked a decrease by 23% with a value of BD323 million during July 2023, compared to BD421 million for the same month in 2022. The top 10 countries accounted for 68% of the total export value.
Saudi Arabia ranked first among countries Bahraini exports of national origin BD63 million from Bahrain. Meanwhile, The UAE was second with BD38 million and the USA third with BD28 million.
Unwrought Aluminum Alloys marked as the top products exported during July 2023 with BD80 million, followed by Agglomerated Iron Ores and Concentrates Alloyed being the second with a value of BD56 million and Unwrought Aluminum not alloyed third with BD19 million.
The total value of re-exports increased by 3% to reach BD50 million during July 2023, compared to BD49 million for the same month in 2022. The top 10 countries in re-exports accounted for 85% of the re-exported value. The UAE ranked first with BD15 million, followed by Saudi Arabia second with BD8 million, and Malaysia third with BD6 million.
As per the report, Turbo-Propellers was the top product re-exported from Bahrain with a value of BD6 million, followed by Other Parts of Airplanes Helicopters or Unmanned Aircraft BD4 million, and Private Cars came third with BD4 million.
As for the trade balance, which represents the difference between exports and imports, the deficit amounted to BD68 million dinars in July 2023 compared to it in the same month of the previous year, recording a surplus of BD2 million dinars, which led to an increase in the deficit by 3606%.
Source: Bahrain News Agency