Bahrain has reported a 17 per cent drop in the value of its imports for October which fell to BD425 million ($1.12 billion) from last year’s figure of BD515 million ($1.35 billion, according to data released by the Information & eGovernment Authority (iGA).

The top 10 countries accounted for 68 per cent of the value of imports, with the remaining countries accounting for 32 per cent, stated iGA in its foreign trade report of October, encompassing data on the balance of trade, imports, exports (national origin), and re-exports.

According to the report, China ranked first when it came to imports to Bahrain, with a total of BD64 million; Australia was second with BD38 million followed by Saudi Arabia with BD35 million.

Aluminum oxide emerged as the top product imported into Bahrain with a total value of BD36 million, while non-agglomerated iron ores and concentrates came second with BD20 million, and four-wheel drive cars third with BD19 million.

The value of exports of national origin decreased by 10 per cent to BD154 million during October 2019, compared to BD171 million for the same month of the previous year.

The top 10 countries in terms of the value of exports of national origin purchased from Bahrain accounted for 79 per cent of the total value, with the remaining countries accounting for 21 per cent, stated the iGA report.

Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD39 million from Bahrain. Meanwhile, the UAE was second with BD16 million and United States of America third with BD15 million.

According to the report, unwrought aluminum alloys emerged as the top products exported during October with BD17 million; unwrought aluminum (not alloyed) was second with a value of BD15 million; and aluminum wire came third with BD12 million.

Total value of re-exports increased by 25 per cent to hit BD74 million during October 2019, compared to BD59 million for the same month of the previous year.

The top 10 countries accounted for 93 per cent of the re-exported value, while the remaining countries accounted for the 7 per cent, it stated.

The UAE ranked first with BD34 million followed by Saudi Arabia with BD20 million and finally China with BD4 million, it added.

The iGA report said agglomerated iron ores and concentrates topped the re-exported product list with BD14 million, while four-wheel drive cars came in second place with BD11 million, and gold ingots came third with BD9 million.

The trade balance, the difference between exports and imports, recorded a deficit totaling BD197 million during October compared to BD286 million for the same month the previous year, an improvement of the trade balance by 31 per cent, it added.