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KSA trade with Arab countries nears $29bn in 9M

KSA trade with Arab countries nears $29bn in 9M
The UAE leads Saudi Arabia's trade partners in the region

Riyadh – Mubasher: Trade exchange between Saudi Arabia and other Arab countries registered marginal growth during the first nine months of 2019, increasing to 9.51% of Saudi total foreign trade from 9.48% in the same period last year.

The Kingdom’s trade with other Arab states slightly decreased during the first nine months of 2019 to SAR 108.33 billion ($28.89 billion), compared with SAR 113.72 billion ($30.32 billion) for the same period in 2018, according to a Mubasher survey.

Saudi foreign trade amounted to a total of SAR 1.199 trillion ($319.99 billion) from the beginning of the year to the end of September

Saudi exports to Arab states declined in the nine-month period by 8.8% YoY or SAR 5.14 billion, while imports decreased by 0.45% or $245 million ($65.3 million).

Meanwhile, Saudi-Arab non-oil trade declined by 4.7% year-on-year (YoY) or SAR 5.39 billion ($1.44 billion) in the nine-month period.

Saudi exports to Arab countries reached SAR 53.53 billion, with the UAE topping destinations and dominating 38.4% of Saudi exports with SAR 20.55 billion, compared with SAR 23.31 billion for the same period last year.

As for imports from other Arab countries, the Kingdom recorded SAR 54.8 billion during the nine-month period, with the UAE leading Arab exporters to Saudi Arabia with SAR 29.17 billion, compared with SAR 34.4 billion for the corresponding period in 2018.