Bahrain’s trade deficit with United States hits $431 million
The trade deficit of the Kingdom of Bahrain with the United States with respect to non-oil trade exchange amounted to $431 million during the 11 months from January until November of 2015.
According to the Bahraini Customs Administration’s data, trade in products, goods and services of non-oil between Bahrain and the United States over the 11 months totalled $1.67 billion, with trade balance in favour of the United States.
US exports to Bahrain amounted to $1.052bn, while Bahrain’s exports to the US were nearly $621 million during the 11 months of 2015, reports Bahrain-based Alwasat News.
Zayed R Alzayani, minister of Industry, Commerce and Tourism, said: “The US benefited from the free trade agreement more than Bahrain did”, adding: “since activating the free trade agreement, US exports to Bahrain tripled, while Bahrain’s exports to US have doubled”.
(US$1 = AED3.67, at the time of publishing)