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UAE-Bahrain trade returning to pre-Covid levels, H1 figures show

UAE-Bahrain trade returning to pre-Covid levels, H1 figures show

Trade between two countries hits $139.6m in June, highest since pandemic struck

Trade between the UAE and Bahrain has returned to near pre-Covid levels, with the latest figures showing $936m in bilateral commerce during the first half of the year.

June’s figures showed trade worth $139.6m between the two GCC countries– 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 statistics, Bahrain’s overall trade for the year-half reached $10.4bn globally, including $2.9bn to other GCC nations. The Kingdom’s overall global trade figures during the first half were reduced by just two per cent despite the Covid-19 pandemic.

Read: Non-oil trade between Abu Dhabi and Saudi Arabia amounted to Dhs493.8bn over last decade

The numbers reveal that Bahrain is emerging as a regional distribution hub for the logistics industry, with exports to the GCC in 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 of the ‘SmartHub’ logistics warehouse for pharmaceuticals and food. This state-of-the-art logistics warehouse utilises emerging technologies to ensure the speedy and efficient distribution of foods and medicines across the entire GCC. It integrates a track and trace system on a blockchain platform with smart contracts for customs clearances and fee payments.

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