1,236 New Coronavirus Infections, Remarkable Rise in Active Cases in Saudi Arabia    The prince's interview    Abu Dhabi suspends COVID-19 'green pass' system following Alhosn app outage    Minister of Education honors winners of 'Madrasati Coding' competition    EU lifts travel restrictions for US travelers    UN: Millions Driven from Homes in 2020 Despite COVID Crisis    Tropical Storm Likely to Hit U.S. This Week    stc, Nokia join forces to raise security awareness in telecom industry    Custodian of the Two Holy Mosques Sends Cable of Congratulation to King of Spain on Anniversary of His Accession to Throne    Saudi Press Headlines    Saudi Arabia has adopted several strategies to achieve sustainable agricultural development    Houthi military escalation is a sign that they are not accepting peace initiative, Yemeni Foreign Minister says    UN chief calls for debt relief extension for middle-income countries    Students in Abu Dhabi to return to schools for in-class learning for 2021/2022 academic year    UAE ranks first regionally, ninth globally in economic competitiveness: Survey    1 in 100 global deaths is by suicide, WHO says    'Bring crimes of sexual violence in conflict out of the shadows, punish perpetrators'    Saudi Arabia Takes Steps At All Levels of Food Systems to Achieve Sustainable Development, reports    Fashion Futures relaunched as digital platform with live event    Nadal pulls out of Wimbledon and Tokyo Olympics    Saudi Stock Exchange Main Index Ends Trading Lower at 10,853 Points    Saudi Post Issues Postage Stamp titled "Thank You, Our Heroes"    HRH Crown Prince Congratulates President of Seychelles on Constitution Day    Sergio Ramos to leave Real Madrid after 16 years    Delegate of German Industry and Commerce Visits Unaizah Chamber    RSIFF celebrates Saudi Cinema Nights in Jeddah on June 16–17    "Scripts and Calligraphy: A Timeless Journey" Exhibition Begins to Receive Visitors Today    Golf superstars confirm for $1m Aramco Team Series - London    Esports superstars confirm for Gamers Without Borders' opening $10m elite series    GACA Organizes a Specialized Workshop on Security Equipment at Airports    $10 million Red Sea Fund to back over 100 projects    Saudi Music Commission Dedicates Patriotic Song to Green Falcons    Ministry of Culture holds 'Scripts and Calligraphy: A Timeless Journey' exhibition    Indian man believed to have headed 'world's largest family' dies    Ministry of Health: People With Obesity are Most Vulnerable to COVID-19 Infections    Saudi National Team Beats Singaporean Counterpart 3-0 in FIFA World Cup 2022 and AFC Asian Cup 2023 Qualifiers    Saudi National Shooting Team Wins Gold, Silver Medals in Arab Shooting Championship    Saudi U-20 Team Beats Bosnia at End of Croatian Tournament    Saudi U-20 Team Concludes Croatia Camp with a Match vs Bosnian National Team    Ithra Holds Environment Exhibit    Use of external loudspeakers at mosques to be restricted to Adhan and Iqamat-ul-salah    From whom do we take Shariah? How do we get legitimacy?    Welcome to beautiful Ramadan customs    Vaccination does not invalidate fasting, says UAE Fatwa Council    Council of Senior Scholars: Muslim Brothers' Group Don't Represent Method of Islam, rather only Follows its Partisan Objectives, Violating our Graceful Religion    Eid Al-Adha Prayer Performed at the Grand Holy Mosque    Pilgrims Perform Dhuhr and Asr Prayers in Arafat Holy Site    Senior Scholars Council Issues Decision No. 246 Regarding Attendance of Friday Prayer and Prayers at Mosques in a Case of Spread of Epidemic or Fear of its Spread    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Nearly SR3bn in trade between Bahrain and KSA in Q1 2021
Published in The Saudi Gazette on 27 - 04 - 2021

The Kingdom of Saudi Arabia (KSA) accounted for almost half of all GCC trade with Bahrain during the first quarter of 2021. Non-oil trade between the two countries reached SR2.96 billion ($789 million) according to the latest figures released by Bahrain's eGovernment and Information Authority; reflecting both Kingdoms' commitment to ongoing economic diversification.
The continuous flow of trade is largely due to the uninterrupted movement of commercial goods between the two countries via the King Fahd Causeway. New logistics technology and the introduction of the Authorized Economic Operator (AEO) program that expedites processing for multinationals based in Bahrain and Saudi Arabia has cut the waiting period for trucks from an average of four hours to 20 minutes.
Discussing the trade figures between KSA and Bahrain, Ali Al Mudaifa, executive director of Bahrain's Economic Development Board said: "Bahrain's trading relationships continue to grow strongly. Bahrain offers the region's best value operating costs and great connectivity — only a 40-minute drive away from the region's biggest market — coupled with the introduction of the AEO and advanced logistics technology have helped to drive increased trade. It is great to see both Kingdoms working to find creative solutions to keep business flowing across our borders."
The total value of trade in between the GCC and Bahrain reached SR6.6 billion ($1.76 billion), a rise of 6 percent from Q1 2020. Reaching second place in GCC trade with Bahrain is the United Arab Emirates (UAE), recording SR2.4 billion ($639 million), an increase of 15 percent from Q1 2020. Trade with Oman also showed a significant increase, reaching SR862 million ($230 million), a 27 percent rise from Q1 2020. Oman was followed by Kuwait, recording SR 367 million ($98 million) in bilateral trade in Q1 2021.
The value of global imports increased by 4 percent, reaching SR13.2 billion ($3.52 billion) during the first quarter of 2021. Exports of nationally produced products from Bahrain increased by 18 percent, reaching SR6.75 billion ($1.811 billion) globally. The manufacturing sector is a key driver of the Kingdom's economic diversification and a significant and consistent contributor to Bahrain's economy accounting for 14.5% of the GDP.


Clic here to read the story from its source.