Latest news with #BD350
Zawya
18-03-2025
- Business
- Zawya
Bahrain non-oil exports up in January
The total value of Bahrain's non-oil exports (national origin) increased slightly by 0.3% to reach BD351 million ($931.6 millon) during January 2025, compared to BD350 million for same month in 2024. The top 10 countries in exports accounted for 74% of the exports value, according to Information & eGovernment Authority's (iGA) January 2025 Foreign Trade report, which encompasses data on trade balance, Imports, national origin exports and re-exports. Kingdom of Saudi Arabia ranked first among countries for non-oil exports (national origin) with BD79 million (23%). The United Arab Emirate was second with BD42 million (12%) and Qatar was third with BD40 million (11%). Agglomerated iron ores and concentrates alloyed recorded as the top products exported in January 2025 with BD92 million (26%), followed by unwrought aluminum alloys with a value of BD56 million (16%) and processed cheese not grated or powdered with BD22 million (6%). Imports down The value of Bahrain's non-oil imports decreased 7% reaching to BD496 million in January 2025 in comparison with BD535 million for same month in 2024. The top 10 countries for imports recorded 72% of the total value of imports. Australia ranked first for imports to Bahrain, with a total of BD92 million (19%), followed by China with BD74 million (15%) and the United Arab Emirate with 37 million (7%). Other aluminum oxide recorded as the top product imported to Bahrain with a total value of BD86 million (17%), followed by non-agglomerated iron ores and concentrates with BD28 million (6%) and private cars being the third with BD21 million (4%). Re-exports up 6% The total value of non-oil re-exports increased by 6% to reach BD71 million during January 2025, compared to BD67 million for same month in 2024. The top 10 countries in re-exports accounted for 84% of the re-exported value. The UAE ranked first with BD26 million (37%), followed by Saudi Arabia with BD16 million (23%) and Qatar with BD4 million (6%). As per the report, gold ingots was the top product re-exported from Bahrain with a value of BD5.9 million (8.3%), followed by Smartphones worth BD5.6 million (7.9%), and four-wheel drive vehicles came third with BD5.5 million (7.7%). As for the Trade Balance, which represents the difference between exports and imports, the deficit was BD74 million compared to a deficit of BD118 million in January 2024. - TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
17-03-2025
- Business
- Trade Arabia
Bahrain non-oil exports up in January
The total value of Bahrain's non-oil exports (national origin) increased slightly by 0.3% to reach BD351 million ($931.6 millon) during January 2025, compared to BD350 million for same month in 2024. The top 10 countries in exports accounted for 74% of the exports value, according to Information & eGovernment Authority's (iGA) January 2025 Foreign Trade report, which encompasses data on trade balance, Imports, national origin exports and re-exports. Kingdom of Saudi Arabia ranked first among countries for non-oil exports (national origin) with BD79 million (23%). The United Arab Emirate was second with BD42 million (12%) and Qatar was third with BD40 million (11%). Agglomerated iron ores and concentrates alloyed recorded as the top products exported in January 2025 with BD92 million (26%), followed by unwrought aluminum alloys with a value of BD56 million (16%) and processed cheese not grated or powdered with BD22 million (6%). Imports down The value of Bahrain's non-oil imports decreased 7% reaching to BD496 million in January 2025 in comparison with BD535 million for same month in 2024. The top 10 countries for imports recorded 72% of the total value of imports. Australia ranked first for imports to Bahrain, with a total of BD92 million (19%), followed by China with BD74 million (15%) and the United Arab Emirate with 37 million (7%). Other aluminum oxide recorded as the top product imported to Bahrain with a total value of BD86 million (17%), followed by non-agglomerated iron ores and concentrates with BD28 million (6%) and private cars being the third with BD21 million (4%). Re-exports up 6% The total value of non-oil re-exports increased by 6% to reach BD71 million during January 2025, compared to BD67 million for same month in 2024. The top 10 countries in re-exports accounted for 84% of the re-exported value. The UAE ranked first with BD26 million (37%), followed by Saudi Arabia with BD16 million (23%) and Qatar with BD4 million (6%). As per the report, gold ingots was the top product re-exported from Bahrain with a value of BD5.9 million (8.3%), followed by Smartphones worth BD5.6 million (7.9%), and four-wheel drive vehicles came third with BD5.5 million (7.7%).
Daily Tribune
29-01-2025
- Business
- Daily Tribune
EWA cuts costs but faces BD240 million deficit, sparking ‘financial stability' concerns
The Electricity and Water Authority (EWA) has saved BD167 million over three years, but this has done little to close its BD240-million operational shortfall, according to Electricity and Water Affairs Minister, His Excellency Yasser bin Ebrahim Humaidan. Addressing Parliament yesterday, Humaidan said the authority's cost-cutting measures had reduced annual expenses by BD31 million in 2022 and BD68 million in 2023, with similar results estimated for 2024, though accounts for the year remain open. These savings are part of a financial recovery plan introduced after the government began scaling back its direct support for the authority in 2017, eventually halting it entirely in 2022. Subsidy The annual subsidy once stood at BD350 million. 'These steps are aimed at stabilising the authority's finances,' said Humaidan, adding that Parliament's cooperation would be essential in tackling remaining challenges. The minister noted that indirect government support has continued, primarily through the provision of subsidised natural gas sold to the authority at $2 per million BTUs — far below the market rate of $4. He estimated this support reduces the deficit to between BD85 million and BD90 million, which must be addressed in the next budget. MP Mohammed Al Ahmed raised concerns in response, questioning why the authority had not yet reached financial stability despite its savings. 'We hear about efforts to cut costs, but the deficit remains. Are there new measures being considered to finally balance the books?' he asked. Al Ahmed questioned whether the authority had done enough to address the long-standing cost of electricity production, which has remained at 29 fils per unit for decades. 'Has there been any effort to bring this cost down over the years? Or is 29 fils here to stay?' he said. He also raised concerns about privatisation, asking how the formation of the Electricity and Water Holding Company might affect tariffs, particularly for unsubsidised citizens and small businesses. Pinch 'If costs rise for these groups, what will that mean for local businesses already feeling the pinch?' Humaidan reassured MPs that the current shortfall had not resulted in increased electricity prices for citizens, as the authority continues to implement government-mandated tariff reductions. 'This is a decision from the government, not the authority or the ministry,' he explained.
