- Trade between two countries hits $139.6 m in June, highest since pandemic struck region
- Bahrain’s trade for the year-half reached US$10.4 billion globally – only 2% down on 2019
Manama, September 30, 2020: Trade between the UAE and Bahrain has returned to levels not seen since before the COVID-19 pandemic, with new figures revealing US$936 million in bi-lateral commerce during the first half of the year.
June’s figures showed the positive economic impact of support measures on the economies of both Kingdoms, with trade returning to US$139.6 million – the highest levels since coronavirus struck the region in March this year.
The recent reopening of the King Fahd Causeway to transit traffic is expected to further boost trade numbers in the latter half of the year.
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 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.
This first half of this year has also seen Bahrain extend technology further into its supply chain, including the launch a first-of-its-kind in the region “SmartHub” logistics warehouse for pharmaceuticals and food. This next generation logistics warehouse utilises emerging technologies to ensure the speedy and efficient distribution of much-needed foods and medicines across the entire GCC. It is the first ‘smart hub’ in the world to integrate a track and trace system on a blockchain platform with smart contracts for customs clearances and fee payments.