FINANCIAL NEWS

Red Sea intra-regional trade grows, challenges remain

27 Aug 2017

(MENAFN) Intra-regional trade amid the Red Sea area is enhancing but still drops behind other regions, as exposed research by the Red Sea Foundation.

Meanwhile, intra-regional trade flows between Red Sea member nations have grown as a share of total merchandise exports through the past 15 years, doubling from 8 percent to 16 percent in 2015.

Additionally, regional trade is heavily weighted toward GCC nations, with over half of intra-regional Red Sea non-oil exports originating from the UAE at 40 percent and KSA at 16 percent.

Moreover, the largest mutual exports flows of merchandise goods are UAE to Oman, UAE to Iraq, UAE to KSA, KSA to UAE and Oman to UAE.

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MENAFN2708201700450000ID1095775725

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