Exports of national products jump 75%, deficit down 71%

exports national deficit iron
Bahrain
  • Date: 07/19/2021
  • Source: The Daily…
  • Sector: Economy
  • Country: Bahrain

Exports of national products jump 75%, deficit down 71%

Exports of made-in Bahrain products during the second quarter of 2021 jumped 75%, led mainly by robust demand for agglomerated iron ores and concentrates from Saudi Arabia, UAE and other countries, indicating the revival of manufacturing activities, despite the COVID-19 outbreak. Imports also grew by 7%, signifying a recovery in domestic demand, during the second quarter, leading to the narrowing of the trade deficit, compared to a year ago. According to the Information & eGovernment Authority foreign trade data, exports of national origin products surged 75% to BD943 million from BD540 m in the same quarter a year ago. Saudi Arabia topped the buyers' list of made-in-Bahrain products with BD167 million. Closely following was the United Arab Emirates with BD127m and the United States of America with BD88 million. The top 10 countries buying from Bahrain accounted for 71% of the total value, with the remaining countries accounting for 29%. The total value of agglomerated iron ores and concentrates, the top products exported during the second quarter, amounted to BD251 million. On the second spot was unwrought aluminium alloys with a value of BD201 million, and semi-finished iron and steel third with BD53 million.