KSA, Bahrain trade surges by 43% in Q3 2020
Non-oil trade between Saudi Arabia and Bahrain increased 43 percent to US$688.4 million during the third quarter of 2020 compared to US$481 million during Q3 of 2019. The surge in trade between both countries comes following the ease of restrictions on cargo transit over the King Fahd Causeway back in August.
Bi-lateral commerce between the two nations surged 12 percent past the $2 billion mark during the first three quarters of 2020 to record a substantial year-on-year increase from the 2019 figure of $1.93 billion.
Saudi Arabia is one of Bahrain’s key trading partners, with majority of imports and exports flowing via the King Fahd Causeway – a 25 kilometre bridge connecting both Kingdoms by road.
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.
With the lowest manufacturing costs in the region, Bahrain is fast becoming the manufacturing and logistics hub of choice for many global manufacturers including Arla, Reckitt Benckiser, Mondelez and Olayan Kimberley-Clark.
Abdulhakim Al Shamary, Board Member of the Bahrain Chamber of Commerce and Industry (BCCI), said: “The King Fahd Causeway acts as an essential link between Bahrain and the wider $1.5 trillion Gulf economy for millions of passengers and commercial trucks each year.
“Despite COVID-19, commercial drivers have still been able to use the bridge enabling critical continuity for the logistics sector”.