Saudi nonoil exports hit USD47.20b in 10M

11 Dec 2014

(MENAFN) Saudi Arabia registered an increase in its nonoil exports by 7.5 percent to USD47.20 billion during the January-October period of this year compared to USD43.87 billion during the same period last year, while its imports dropped by 3.5 percent to USD136.16 billion compared to USD141.09 billion during the same period in 2013, Arab News reported.

Despite the increase in the overall exports, Saudi nonoil exports dropped by 10.4 percent to USD4.23 billion in October compared to USD4.74 billion in September, as well as its imports, which declined by 12.2 percent to USD12.17 billion compared to USD13.88 billion in October and September, respectively.

In terms of countries, China topped the list of countries for the most exports and imports, amounting to 13.4 percent or USD570.14 million in value in October, while Saudi imports from China accounted for 14 percent, or USD1.70 billion in value.

The UAE was the second top importer of Saudi nonoil goods at 9.3 percent in October, or USD426.27 million, followed by Singapore at 6.4 percent with a value of USD266.42 million, India at 5 percent at USD211.80 million, and Egypt at 4.1 percent at USD175.83 million in the value of exports.

While in imports, the US, which recorded 13.6 percent of the total Saudi imports valued at USD1.65 billion, remained the second biggest exporter to the Kingdom, followed by Germany at 6.7 percent or USD825.91 million, Japan and the UAE at 6.1 percent and 5.9 percent, valued at USD745.98 million and USD719.34 million, respectively.