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FINANCIAL NEWS
Saudi imports fall 5.0 percent in May
10 Jul 2014
(MENAFN) Imports of Saudi Arabia dropped an annual 5.0 percent in May, while non-oil exports fell 5.1 percent during the month, according to Arab News.
Nonoil exports represent about 12 percent of overall exports of Saudi Arabia.
Saudi Arabia is expected to face an account surplus reaching 16.6 percent of gross domestic product in 2014 and 11.9 percent in 2015.
Much of the decline in exports resulted from lower exports of petrochemicals and plastic, which together have accounted for 65 percent of total nonoil exports since the start of the year.
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