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Saudi-Arab bilateral trade reaches $9.86bn in Q1

Saudi-Arab bilateral trade reaches $9.86bn in Q1
Saudi exports to Arab countries increased by 4.98%

By: El Sayed Gamal

Riyadh – Mubasher: Trade exchange between Saudi Arabia and the Arab world grew 1.05% year-on-year to SAR 36.997 billion ($9.866 billion) in Q1-19.

Saudi exports to Arab countries increased by 4.98% year-on-year to SAR 18.84 billion ($5.02 billion) during the first quarter of 2019, according to the data compiled by Mubasher.

On the other hand, Saudi imports from the Arab world shrank 2.7% to SAR 18.158 billion ($4.84 billion) in Q1-19 versus SAR 18.6 billion ($4.98) in the year-ago period.

Accounting for 43.3% of the Arab-Saudi trade, the UAE was Saudi Arabia’s top trade partner in the Arab world during the period from January to the end of March, with the trade between both GCC countries registering SAR 16.01 billion ($4.27 billion).

Egypt came second among Saudi Arabia’s largest Arab importers, receiving SAR 1.96 billion ($522.56 billion) imports from the oil-rich country in Q1-19.

 

Translated by: Muhammad Abdul-Wakeel