Bahrain Exports Fell to $1.4 Billion in Q2
2020-07-28 - 6:56 p
Bahrain Mirror: The Kingdom's trade deficit fell to BD485 million ($1.29) during the second quarter of 2020 compared to BD492 million ($1.31) for the same quarter of the previous year, recording a 1.4% decrease on an annual basis, the Information & eGovernment Authority (iGA) stated.
The trade deficit increased by 17% in the first quarter of 2020, to $1.16 billion, from $996.5 million in the same period last year.
The iGA report showed that the value of national-origin exports fell by 9.2% to 540 million dinars ($1.44 billion) in the second quarter. Meanwhile, the value of re-exports decreased by 20% to 143 million dinars ($381.5 million).
The value of imports decreased by 8%, reaching BD1.168 billion during second quarter 2020 compared to BD1.267 billion for the same quarter the previous year.
Bahrain's trade deficit fell 32% last year to $5.05 billion last year, compared to $7.45 billion in 2018.
The Kingdom of Bahrain is the smallest oil producer among the Gulf Cooperation Council (GCC) nations. It produces about 200,000 barrels of crude oil per day. Bahrain's foreign trade was affected during the first half of this year, amid the economic repercussions of the Coronavirus and the suspension of commercial activities