MANAMA, BAHRAIN – The Information eGovernment Authority (iGA) has published its foreign trade report of Bahrain for Q4 2023, covering trade balance, imports, exports of products with national origin, and re-exports.
The value of imports has increased by 5 percent, reaching US$3.92 billion (BD1.476 billion) during Q4 2023 in comparison with US$3.75 billion (BD1.410 billion) for the same quarter in 2022, the Bahrain News Agency reported.
The top 10 countries for imports marked 69 percent of the total value of imports.
On the other hand, the value of exports of products with national origin marked a decrease by 10 percent to a value of US$2.89 billion (BD1.013 billion) during Q4 2023, compared to US$2.98 billion (BD1.121 billion) for the same quarter in 2022.
The top 10 countries accounted for 69 percent of the total export value.
The total value of re-exports decreased by 6 percent to reach US$500 million (BD188 million) during Q4 2023, compared to US$531 million (BD200 million) for the same quarter in 2022.
The top 10 countries in re-exports accounted for 81 percent of the re-exported value.
As for the trade balance, which represents the difference between exports and imports, the deficit amounted to US$734 million (BD276 million) in Q4 2023, compared to a deficit of US$234 million (BD88 million) in Q4 2022, which led to an increase in the deficit by 212 percent.