The total value of trade between Bahrain and the rest of the GCC members reached $1.76 billion in the first quarter of the year, a 6 percent increase on the same period in 2020.
According to figures released by the kingdom’s eGovernment and Information Authority, non-oil bilateral trade between the UAE and Bahrain in the opening three months of this year, which accounted for more than a third of the overall figure, increased by 15 percent from Q1 2020 to $639 million.
Trade between Saudi Arabia and Bahrain accounted for 45 percent of the total Bahrain-GCC trade, at $789 million; Oman increased by 27 percent to $230 million in the same period; while Kuwait recorded $98 million in bilateral trade in Q1 2021.
Ali Al Mudaifa, executive director of Bahrain’s Economic Development Board, said: “The fact that Bahrain’s trade with the GCC continues to grow strongly reflects the resilience of Bahrain’s supply chains.”
Some of the biggest exports to the UAE, aside from iron ore and aluminium products, included cheese and biscuits manufactured in Bahrain’s mega factories. Within the region, the kingdom is rapidly emerging as an FMCG leader, with global FMCG giants like Arla, Mondelez, Kimberly Clark and Reckitt Benckiser selecting the country as their regional manufacturing base and distribution hub.
The value of global imports increased by 4 percent, reaching $3.52 billion during the first quarter of 2021, while exports of nationally produced products increased by 18 percent, reaching $1.811 billion.
The manufacturing sector, a key driver of the kingdom’s economic diversification and a significant and consistent contributor to Bahrain’s economy, accounted for 14.5 percent of GDP.
Follow us on
