Bahrain's national exports expand by 43% with a special focus on alloy and unwrought aluminium

Recent reports by the Information and eGovernment Authority (iGA) confirm a steady 43 per cent growth for the nationally originated exports from Bahrain during the second quarter of 2022, resulting in BD1.35 billion (US$3.59 billion). Last year, the same quarter generated BD943 million, which is substantially low than this year.

The report also holds data on the trade balance re-exports and imports along with information on the primary ten trading accomplices who managed to reach a value of 71 per cent of the total local exports in the quarter while the residual 29 per cent was utilised by other countries.

All throughout the second quarter, aluminium alloys surfaced as the top exported product with earnings generated worth BD474 million. The second winner in the list would be agglomerated iron ores and concentrates with a net value of BD222 million and the one holding the third position would be unwrought aluminium (not alloyed) with a total collection of BD83 million. 

Saudi Arabia received BD245 million worth of Bahraini exports having a national origin and was anointed to the first position among countries accepting exports from the region. Exports to the US ranked second with a BD206 million yield, and UAE became third with exports of BD112 million.

The report calculated that during the second quarter of 2022, the number of re-exports augmented by 12 per cent to BD184 million when compared with BD164 million for the same time span, the previous year. The primary ten trading partners jointly amounted to 83 per cent of the re-exported income, while the leftover 17 per cent was claimed by other countries.

UAE received the highest amount of re-exports from Bahrain resulting in BD41 million, succeeded by Saudi Arabia with a BD35 million intake and third came Singapore with BD34 million to its accounts.

One of the topmost products re-exported from Bahrain is aircraft engines with a raised value of BD29 million. Next in line is apparatus for wrist watches worth BD11 million and the third place has been occupied by gas turbines with an accumulated value of BD10 million. 

The report also made it very clear that during the mentioned quarter, the imports have heightened by 28 per cent to BD1.598 billion which is definitely higher than the collection last year same quarter, which was BD1.249 billion. Herein, the top ten trading partners had generated almost 70 per cent of the total acquired amount.

Also, the report revealed that China has been the biggest exporter to Bahrain gathering an amount close to BD234 million. Brazil exported worth BD171 million products to Bahrain, followed by Australia getting the third post with BD160 million.

The primary product imported into Bahrain amounted to BD209 million and was non-agglomerated iron ores. The second-ranking product imported would be aluminium oxide with a value of BD147 million and the third position was occupied by four-wheel drive cars worth BD42 million.

The difference between export and imports or more specifically known as the trade balance, recorded a deficiency of BD63 million in the second quarter, which is 55 per cent enhanced than the previous year’s deficit of BD141 million for the same quarter.