Riyadh – Mubasher: The total trade exchange between Saudi Arabia and member countries of the Gulf Cooperation Council (GCC) declined by nearly 4% to around $2 billion (SAR 7.8 billion) in February 2020 from $2.17 billion (SAR 8.13 billion) in the same month of 2019.

The total value of GCC non-oil exports to Saudi Arabia decreased to approximately $970 million last February, compared to $987 million in the year-ago period, according to the Saudi General Authority for Statistics (GaStat).

Meanwhile, imports dropped to $1.1 billion in February 2020 from $1.18 billion during the corresponding period of 2019, leading to a trade balance deficit of nearly $536 million.

The UAE accounted for 66% of the total trade exchange between Saudi Arabia and GCC countries in February with SAR 5.14 billion ($1.37 billion).

Saudi Arabia recorded a trade surplus of around SAR 24.6 billion in February with SAR 66.249 billion in exports and SAR 41.639 billion of imports.