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UAE-Bahrain trade leaps 75% to reach $672 mn in Q2 2021

The trade between the GCC and Bahrain reached a total value of $1.69 bn in Q2 2021

Trade between Bahrain and UAE witnessed significant leaps ever since the Covid-19 pandemic started as the non-oil bilateral trade between both the countries increased by 75 percent. It also reached a total value of $1.69 billion during the second quarter of 2020, according to media reports.

The trade deal reached $672 million in the second quarter of this year and it brought in 40 percent of Bahrain’s GCC trades, according to the latest numbers released by Bahrain’s Government and Information Authority.

It has also been reported that only Saudi Arabia traded more than Bahrain with the total value of exports and imports between the two kingdoms reaching $781 million during the quarter. Trade between Oman and Bahrain stood at $141 million, and recorded a trade deal of $99 million in bilateral trade in Q2 2021.

Reports also mentioned that trade between the GCC and Bahrain reached a total value of $1.69 billion in Q2 2021 and also registered a 38 percent increase compared to last year during the same quarter. International trade deals were also massively impacted due to the Covid-19 pandemic due to closed borders and disrupted supply chain due to the lockdown-imposed restrictions. During the first quarter of 2021, the trade deal reached up to $3.4 billion, rising from $2.8 billion during 2020.

Ali Al Mudaifa, executive director of Bahrain’s Economic Development Board told the media, “We are very pleased to see non-oil trade between the UAE and Bahrain recovering so strongly. These regional figures are a clear indication of our appetite for growth and our determination in our response to the pandemic’s economic challenges. Bahrain’s strong rebound from the pandemic demonstrates the continuing integrity of our robust supply chains and illustrates our position as a key logistical hub in the Gulf region. Companies here benefit from a competitive business environment, the region’s best-value operating costs and one of the most skilled workforces. The Kingdom also offers 100 percent foreign ownership in most business sectors.”

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