Tue, 06 February 2024
The Information &eGovernment Authority (iGA) has published its Foreign Trade report of 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 percent, reaching BHD1.476 billion during Q4 2023 in comparison with BHD1.410 billion for the same quarter in 2022. The top 10 countries for imports marked 69 percent of the total value of imports.
According to the report, China ranked first for imports to Bahrain, with a total of BHD207 million, followed by Brazil with BHD136 million, and United Arab Emirates with BHD119 million.
The value of Exports of Products of National Origin decreased by 10 percent with a value of BHD1.013 billion during Q4 2023, compared to BHD1.121 billion for the same quarter in 2022. The top 10 countries accounted for 69 percent of the total export value.
The Kingdom of Saudi Arabia ranked first among countries for the exports of Products with National Origin with BHD225 million. The United Arab Emirates followed with BHD126 million and the United States of America was third with BHD97 million.
The total value of Re-exports decreased by 6 percent to reach BHD188 million during Q4 2023, compared to BHD200 million for the same quarter in 2022. The top 10 countries in Re-exports accounted for 81 percent of the re-exported value. The United Arab Emirates ranked first with BHD52million, followed by the Kingdom of Saudi Arabia as second with BHD44 million, and Luxembourg third with BHD10.13 million.
As for the Trade Balance, which represents the difference between exports and imports, the deficit amounted to BHD276 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 percent.