Bahrain’s Information & eGovernment Authority (iGA) has released its foreign trade report of second-quarter 2020 which includes data on the balance of trade, imports, exports (national origin), and re-exports.
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As per the report, Bahrain’s value of imports witnessed an 8 percent decreased to reach $3.10 billion during the second quarter of 2020 compared to with $3.36 billion for the same quarter the previous year.
The top 10 countries contributed to 67 percent of the value of imports, with the remaining countries accounting for 33 percent.
Top 3 (Imports)
China ranked first with a total of $514.59 million,
Saudi Arabia was second with $209.82 million, and
Brazil was third with $209.55 million.
Most imported component
Aluminum oxide was the top product imported into Bahrain with a total value of $209.55 million, while non-agglomerated iron ores and concentrates were second with $198.94 million, and four-wheel drive cars third with $114.06 million.
Value of exports of National Origin
The value of exports of national origin witnessed a 9 percent decrease to reach $1.43 billion during the second quarter of 2020 compared with $1.57 billion for the same quarter of the previous year.
Top 10 countries
The top 10 countries in terms of the value of exports of national origin purchased from Bahrain contributed towards 74 percent of the total value, with the remaining countries valuing for 26 percent.
Top 3 (Exports of national origin purchased from Bahrain)
Saudi Arabia ranked first with a total of $289.13 million,
The United Arab Emirates was second with $135.28 million, and
The United States of America was third with $114.06 million.
Most exported component of National origin
Unwrought aluminum (not alloyed) was the top products exported during the second quarter 2020 with a trade value of $267.91 million, unwrought aluminum alloys was second with a value of $265.25 million and agglomerated iron ores and concentrate alloyed third with $175.07 million.
Value of re-exports
The total value of re-exports saw a decrease of 20% to reach $379.31 million in the second quarter of 2020, compared with $477.46 million for the same quarter of the previous year.
Top 10 countries
The top 10 countries contributed to 93 percent of the re-exported value, while the remaining countries accounted for 7 percent.
Top 3 (Value of re-exports)
Saudi Arabia ranked first with $161.81 million,
The United Arab Emirates second with $63.66 million, and
China was third with $47.75 million.
Most re-exported component
Four-wheel drive cars emerged as the top product re-exported from Bahrain with $79.58 million. Parts for airplanes came in second place with $37.14 million and cigarettes containing tobacco came third with $23.87 million.
Trade Balance
The trade balance, the difference between exports and imports, recorded a deficit totaling $1.28 billion during the second quarter of 2020 compared to $1.30 billion for the same quarter of the previous year, an improvement of the trade balance by 1%.
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