Business | Economy
Saudi exports to GCC region grow
UAE tops the list of its non-oil importers as trade increases by 375 million riyals in August.
- By Abdul Rahman Shaheen Correspondent
- Published: 00:41 December 2, 2008
Riyadh The UAE topped the list of countries that imported non-oil products from Saudi Arabia in August.
The UAE was followed by China, India, Egypt and Bahrain, according to the latest report by the Central Department of Statistics and Information (CDSI) at the Ministry of Economy and Planning.
The value of non-oil exports in August increased by 27 per cent to 11 billion Saudi riyals compared to 8.65 billion riyals in the same month last year, an increase of 2.36 billion riyals.
Petrochemicals continued to be the country's most important commodity exported in August.
It was followed by plastics, base metals and their products, machinery, tools, electrical appliances and re-exported commodities.
Most important
The ministry report pointed out that during the period under review, the GCC states were the most important countries to which Saudi Arabia exports.
The GCC was followed by non-Arab and non-Muslim Asian countries and the rest of the Arab League countries, and then the European Union.
Regarding trade between Saudi Arabia and other GCC states, the report showed that there was an increase of 49 per cent in the volume of Saudi imports of locally made products from other GCC states in August, amounting to 1.82 billion riyals against 1.22 billion riyals in the same month last year, an increase of 603 million riyals.
The value of non-oil exports by Saudi Arabia to the GCC states during the month rose by 375 million riyals (17 per cent) to 2.58 billion riyals, compared to 2.2 billion riyals in August 2007.
At the same time, the value of Saudi imports from other GCC states in August jumped 30 per cent to 37.63 billion riyals against 29 billion riyals, an increase of 8.63 billion riyals.
The report also indicated that China topped the list of countries that export to Saudi Arabia, followed by the United States, Japan and Germany.
The non-Arab and non-Muslim Asian countries topped the most important groups of countries from which Saudi Arabia imported goods during the period, and they were followed by European Union countries and North American countries, the report added.
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