How did Bahrain's import and export data become in the 3rd quarter?

Bahrain's economic landscape is coming into focus with the latest data for the third quarter of this year. Bahrain's import value experienced a 5% decrease in Bahraini Dinars (BD), dropping to 1.402 billion BD, compared to 1.471 billion BD in the same quarter of 2022.

When we look at import and export data, the value of national origin product exports in Q3 2023 witnessed a significant drop of 24%, amounting to 1.240 billion BD, falling below the previous year's 943 million BD export value. Despite facing fluctuations in the domestic market trade, Bahrain's e-commerce industry has been on the rise, challenging economic expectations and contributing to the resilience of the country. Aluminum oxide, with a total value of BD 121 million, is one of the leading products imported to Bahrain.

According to export data, China continues to be Bahrain's largest export market.

1. China (208 million BD)
2. United Arab Emirates (131 million BD)
3. Australia (128 million BD)

In terms of imports, Saudi Arabia leads the way.

1. Saudi Arabia (207 million BD)
2. United Arab Emirates (122 million BD)
3. United States (87 million BD)

The total value of exports increased by 4% in Q3 2023, reaching 184 million BD, compared to 177 million BD in the same period of the previous year. While the majority of exports are unwrought aluminum alloys with 243 million BD, it is followed by alloyed agglomerated iron ores and concentrates with 167 million BD and unalloyed aluminum wire with 55 million BD.

The trade balance, representing the difference between exports and imports, stands at 275 million BD in Q3 2023, a significant change when compared to the surplus of 54 million BD in the same quarter of 2022. Bahrain's trade performance is considered an important indicator in monitoring economic development and foreign trade policies.