DUBAI: Trade between Bahrain and the rest of the Gulf Cooperation Council (GCC) members rose 6 percent year-on-year to $1.76 billion during the first quarter of 2021, according to the latest official figures.
Data from Bahrain’s Information & eGovernment Authority found that trade between Saudi Arabia and Bahrain accounted for 45 percent of the total Bahrain-GCC trade and amounted to $789 million. No percentage figure for the change in Saudi-Bahrain trade was given.
Trade between the UAE and Bahrain accounted for 36 percent of all trade between Bahrain and the other six GCC members and in the first three months of this year increased 15 percent to $639 million.
Trade between Oman and Bahrain increased by 27 percent to $230 million in the same period, while trade with Kuwait amounted to $98 million.
“The fact that Bahrain’s trade with the GCC continues to grow strongly reflects the resilience of Bahrain’s supply chains. Bahrain offers the region’s best value operating costs, great connectivity and advanced logistics infrastructure. Throughout 2020 and into 2021, Bahrain has been working closely with public and private sector partners to find creative solutions to keep business flowing across our borders,” Ali Al Mudaifa, Executive Director of Bahrain’s Economic Development Board, said in a press statement.
The figures also showed that the total value of global imports to the kingdom increased by 4 percent, reaching $3.52 billion in Q1 2021. Global exports increased 18 percent to $1.811 billion over the same period.