The 2020 fourth-quarter foreign trade report by the Information and eGoverment Authority (iGA)
Is out and just like the past editions, sheds light on detailed data on import, export, the balance of trade, and re-exports.
The report states that the net value of imports reduced to BD 1.191 billion during Q4 2020. That’s a sizable 7% down compared to the same quarter the previous year. The 10-largest exporters to Bahrain accounted for 69% of Q4 2020’s total import, whereas the other 90% contributed 31%.
China was expectedly the largest exporter to the Kingdom (BD 166 million) during the said period, followed by Saudi Arabia (BD 96 million) and Australia (BD 87) in the second and third spots respectively.
Aluminum Oxide topped the charts as the product with the highest import cost (BD 89 million), followed by non-agglomerated iron ores and concentrates at just about BD 68 million. At the third spot was four-wheel drive cars (BD 52 million).
Meanwhile, compared to Q4 2019, the total value of Bahraini exports grew 12% to BD 599 million in Q4 2020. The top-10 importers from Bahrain accounted for 72% of the total value. Saudi Arabia topped the charts as the country procuring exports of Bahraini national origin (valued at BD 127 million). The US stood second with an import figure of BD 52 million and was closely followed by the UAE at the third spot (BD 51 million).
There was a notable improvement in trade deficit figures as well. Compared to BD 530 million in Q4 2019, the deficit decreased to BD 435 million in Q4 2020.