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FINANCIAL NEWS
Saudi imports fall 8.2 percent in June
25 Aug 2014
(MENAFN) Saudi Arabia’s imports fell 8.2 percent in June, the eighth consecutive drop, hitting USD13.72 billion in imported goods, while nonoil exports rose 14.9 percent, Arab News reported.
Imports by weight registered a 20.9 percent fall, reaching 5.6 million tons this June compared to 7.1 million tons in June 2013.
Over a quarter of the Kingdom’s imports consisted of machinery and mechanical equipment, worth USD3.51 billion, declining 10 percent on year, while transport equipment imports’ total value dropped by 15.6 percent in the cited period.
Meanwhile, China overturned the US as the top source of Saudi imports, with Saudi importing USD1.99 billion worth of goods from China, while goods worth USD1.59 billion came from the US in June.
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