GulfBase Live Support
Bahrain’s value of imports increased 18 per cent as it reached BD1.204 billion ($3.19 billion) during the third quarter of 2017, in comparison to BD1.017 billion ($2.69 billion) for the same quarter of the previous year, said a report.
The top 10 countries account for 63 per cent of the imports value and 37 per cent for other countries, said the foreign trade report of the third quarter for 2017 issued by Bahrain’s Information & eGovernment Authority (iGA). It covers balance of trade, imports, exports and re-exports (national origin) goods.
According to the report, China was ranked as the top exporter to Bahrain with BD166 million ($440.02 million); the UAE came in second with BD126 million ($333.9 million); whereas Saudi Arabia ranked third with BD79 million ($209.4 million).
Four-wheel drive cars emerged as the top most product imported to Bahrain with BD42 million ($111.3 million), while the aluminium oxide came in second with BD39 million ($103.3 million).
Non-agglomerated iron ores and concentrates products stood third with BD36 million ($95.43 million) during the third quarter of this year.
The value of the exported national origin increased by 17 per cent as it reached BD465 million ($1.23 billion) during the third quarter of 2017 versus BD398 million ($1.05 billion) for the same month of the previous year.
The top 10 countries account for 79 per cent of the exported national origin value and 21 per cent for other countries.
Saudi Arabia was ranked as the first country importing from Bahrain with BD99 million ($262.4 million), US came second with BD76 million ($201.4 million) and the UAE placed third place with BD60 million ($159.05 million).
As for national export products, aluminium wire topped the list of exported products in third quarter of this year with BD64 million ($169.6 million); agglomerated iron ores and concentrates were positioned second products imported with a value of BD63 million ($167 million); and unwrought aluminium alloys stood third place for exported products with BD40 million ($106.03 million).
In regards to the re-exported field, the value of re-exports increased by 35 per cent as it reached BD127 million ($336.6 million) during third quarter of 2017 versus BD94 million ($249.17 million) for the same month of the previous year.
The top 10 countries account for 94 per cent of the re-exported value and 6 per cent for other countries. Saudi Arabia was ranked as the first country to re-export from Bahrain with BD49 million ($129.8 million), China ranked as the second with BD25 million ($66.27 million) and UAE as third with BD19 million ($50.36 million).
Four-wheel drive cars emerged as the top product re-exported from Bahrain with BD32 million ($84.82 million), cigarettes stood second with BD6 million ($15.9 million) and sedan cars came in third with BD4 million ($10.60 million).
The trade balance, difference between exports and imports, the value of the deficit of the trade balance reached BD610 million ($1.61 billion) during third quarter of 2017 versus BD524 million ($1.38 billion) for the same quarter of the previous year with an increase of 16 per cent, it stated.
VISION 2030 adds sustainability to the agenda as it pushes to expand urban development; points include prolonged asset lifecycle, lower utility bills, and infrastructure to promote physical activity.
Gulf banks could benefit from rising global interest rates, a Bloomberg conference in London heard.
Hasnain Malik, global head of equity research at emerging markets bank, Exotix Capital fl
Saudi Arabia has approved a new bankruptcy law, a move analysts predict will help attract foreign direct investment, boost credit growth and allow the country’s SME sector to thrive, as the process o
Economic performance is likely to improve in 2018 with firming oil prices, an improvement in global trade and the expected easing pace of fiscal adjustment, according to the latest assessment of the
Saudi Arabia announced plans Thursday to spend billions on building new venues and flying in Western acts, in a total overhaul of its entertainment sector that would been unthinkable not long ago.