- Trade between two Kingdoms hits $262.9m in June, highest since pandemic struck region
- Saudi Arabia is one of Bahrain’s key trading partners, with both nations connected by bridge
- Bahrain’s overall trade for the year-half reached US$10.4 billion globally
Manama, September 30, 2020: Trade between Saudi Arabia and Bahrain has returned to levels not seen since before the COVID-19 pandemic, with new figures revealing US$1.48 billion in bi-lateral trade during the first half of the year.
In the first six months of 2020, the figures were up 2 per cent from the same period last year, in which a total of US$1.45 billion in trade was recorded between the two nations.
June’s figures showed the positive economic impact of support measures on the economies of both Kingdoms, with trade returning to US$262.9 million – the highest levels since coronavirus struck the region in March this year. Compared to 2019, the month showed a substantial year-on-year rise of 52.45 per cent.
Saudi Arabia is one of Bahrain’s key trading partners, with imports and exports flowing between the two nations via the King Fahd Causeway – a 25 kilometre bridge connecting both Kingdoms by road.
Officials have been working to increase facilities for commercial traffic, with recent renovation works including an increase in capacity by 45 per cent and new gates on the Saudi side.
It was also recently announced that Bahrain Customs has installed high-tech artificial intelligence scanners at the King Fahd Causeway, automating data collection and allowing shipment inspections to take place before reaching the border.
According to the new figures, Bahrain’s overall trade for the year-half reached US$10.4 billion globally, including US$2.9 billion to other GCC nations. Despite the COVID-19 pandemic, the Kingdom’s overall global trade figures during H1 reduced by just two per cent.
The numbers also reveal that Bahrain is becoming a regional distribution hub for the logistics industry, with exports to the GCC over the first half of the year representing 66 per cent of the total figure. Imports to the Kingdom from the rest of the GCC represented 34 per cent of the Kingdom’s bilateral trade.
