Bahrain's Non-Oil Exports Fall 6% to $2.37 Billion in Q2 2024

Bahrain, 26 July, 2024 : Bahrain’s non-oil exports of national origin fell 6% to BD894 million ($2.37 billion) in Q2 2024 compared to the same period in 2023. The top 10 countries accounted for 64% of the total export value.

Saudi Arabia led with BD201 million (22%), followed by the US at BD75 million (8.4%) and the UAE at BD73 million (8.2%). Unwrought aluminium alloys were the top export product at BD267 million (30%), followed by agglomerated iron ores and concentrates at BD159 million (18%) and non-alloyed aluminium wire at BD49 million (5%).

Non-Oil Re-Exports Rise

Non-oil re-exports increased by 4% to BD206 million in Q2 2024, up from BD198 million in Q2 2023. The UAE led with BD58 million (28%), followed by Saudi Arabia at BD39 million (19%) and the UK at BD17 million (8%). Turbo-jets were the top re-exported product at BD65 million (32%), followed by private cars at BD11 million (5%) and four-wheel drives at BD9 million (4%).

Imports Decrease

Non-oil imports decreased by 4%, reaching BD1.41 billion in Q2 2024 compared to BD1.47 billion in Q2 2023. The top 10 countries accounted for 68% of the total import value. China was the largest importer to Bahrain at BD191 million (14%), followed by Brazil at BD157 million (11%) and Australia at BD112 million (8%).

Non-agglomerated iron ores and concentrates were the top imported product at BD200 million (14%), followed by other aluminium oxide at BD101 million (7%) and parts for aircraft engines at BD41 million (3%).

Trade Balance

Bahrain's trade balance showed a deficit of BD310 million in Q2 2024, compared to BD322 million in Q2 2023.

Source : www.zawya.com