Saudi non-oil exports down 2pc in Q1
Riyadh, June 26, 2013
Saudi Arabia witnessed a slight drop in its non-oil exports during the first quarter which fell 2.1 per cent to SR46.84 billion ($12.5 billion) compared to SR47.84 billion during the same period last year, said a report.
The list was led by petrochemicals with exports to the tune of SR16.88 billion, or 36.05 percent of the total non-oil exports followed by plastic products at SR14.31 billion or 30.55 percent and ordinary metals and their products at 7.11 per cent of the total exports, reported the Arab News, citing the Central Department of Statistics and Information (CDSI).
China was the biggest importer of Saudi goods during the period with 12.98 per cent of the total exports, followed by the UAE at 11.31 per cent and India at 5.79 per cent, the report stated.
The value of Saudi imports during the Q1 increased by 13.5 per cent to reach SR154.92 billion compared to the figures of same period of the previous year, it added.
Equipment, machinery and electrical utensils topped the list of Saudi imports which soared to SR42.84 billion, or 27.65 percent of total imports, followed by transport materials worth SR27.79 billion and metal products at SR 19.55 billion.
The largest exporter to the Kingdom was the US sending goods worth 13.32 per cent of the total Saudi imports, followed by China at 12.5 percent, then South Korea at 6.62 percent, it added.
More Finance & Capital Market Stories
- Gulf stocks surge as Fed tapering adds fuel to fire
- SABB launches graduates programme
- NBAD names key official for Hong Kong
- Commercial Bank of Dubai obtains $450m loan
- EFG Hermes names group co-chief
- Islamic bond issuance in GCC picking up
- Kuwait budget surplus likely to hit $42.4bn
- Bahrain banking sector on road to recovery
- GCC banks' outlook stable, says report
- GBSA panel names new chairperson