The Information &eGovernment Authority (iGA) has published its Foreign Trade report for Q4 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 increased by 5%, reaching BD1.476 billion during Q4 2023 in comparison with BD1.410 billion for the same quarter in 2022. The top 10 countries for imports marked 69% of the total value of imports.
According to the report, China ranked first for imports to Bahrain, with a total of BD207 million, followed by Brazil being the second with BD136 million, and The United Arab Emirates as the third with BD119 million.
Agglomerated Iron Ores and Concentrates Alloyed are marked as the top product imported to Bahrain with a total value of BD160 million, while Other Aluminum Oxide was second with BD110 million, followed by Parts for Aircraft Engines being third with BD42 million.
On the other hand, the value of Exports of Products with National Origin marked a decrease by 10% to a value of BD1.013 billion during Q4 2023, compared to BD1.121 billion for the same quarter in 2022. The top 10 countries accounted for 69% of the total export value.
The Kingdom of Saudi Arabia ranked first among countries for the exports of Products with National Origin with BD225 million.
The United Arab Emirates was second with BD126 million and the United States of America was third with BD97 million.
Unwrought Aluminum Alloys are marked as the top products exported during Q4 2023 with BD226 million, followed by Agglomerated Iron Ores and Concentrates Alloyed being the second with a value of BD201 million and Unwrought Aluminum Not Alloyed third with BD59 million.
The total value of re-exports decreased by 6% to reach BD188 million during Q4 2023, compared to BD200 million for the same quarter in 2022. The top 10 countries in re-exports accounted for 81% of the re-exported value.
The United Arab Emirates ranked first with BD52 million, followed by the Kingdom of Saudi Arabia as second with BD44 million, and Luxembourg third with BD10.13 million.
As per the report, Turbo-Jets was the top product re-exported from Bahrain with a value of BD25 million, followed by Four-Wheel Drive BD12 million, and Private Cars came third with BD8 million.
As for the Trade Balance, which represents the difference between exports and imports, the deficit amounted to BD276 million dinars in Q4 2023, Compared to a deficit of 88 million dinars in Q4 2022, which led to an increase in the deficit by 212%.
