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Saudi trade exchange with Arab states hits SAR 150.4bn in 10M

Saudi trade exchange with Arab states hits SAR 150.4bn in 10M
The kingdom’s trade exchange with Arab countries fell by 18.97% in the January-October period.

Riyadh – Mubasher: Saudi Arabia’s trade exchange with Arab states declined in the first ten months of 2020 given the impact of the COVID-19 pandemic on trade movement.

The kingdom’s merchandise trade exchange with Arab countries fell by 18.97% in the January-October period to reach SAR 150.44 billion ($40.12 billion), compared with SAR 185.66 billion ($49.51 billion) in the year-ago period, according to data collected by Mubasher based on official figures.

The UAE was the kingdom’s main Arab trading partner for merchandise trade during the ten-month period ended in October, accounting for 41.7% of total trade exchange value at SAR 62.75 billion ($16.73 billion).

Egypt took the second spot with SAR 23.45 billion ($6.25 billion), followed by Bahrain with SAR 20.11 billion ($5.36 billion).

Moreover, Saudi Arabia achieved a trade surplus of SAR 41.31 billion ($11.02 billion) with Arab states in the January-October period, compared with a surplus of SAR 57.79 billion ($15.41 billion) in the prior-ago period.