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FINANCIAL NEWS
Saudi Arabia, UAE top GCC wood products industry in 2010
31 Oct 2011
(MENAFN) Gulf Organization for Industrial Consulting (GOIC) said in its latest report that Saudi Arabia and UAE were GCC’s top investors in wood products industry, Arab News reported.
The report explained that Saudi Arabia invested USD294 million in the wood industry last year, followed by UAE with USD121 million, Kuwait with USD34 million, Oman with USD12 million, Qatar with USD9 million and Bahrain with USD8 million.
GOIC’s report unveiled 389 industrial factories were operating in the GCC last year, lead by UAE with 208 factories, followed by Saudi Arabia with 67 factories.
The value of GCC wood imports increased over the years. China, Malaysia, Finland and Austria are the main exporters, according to the report.
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