Saudi Arabia Records Historical Levels in Non-Oil Exports

Saudi Arabia Records Historical Levels in Non-Oil Exports

Saudi non-oil commodity exports achieve the highest level in their history (Asharq Al-Awsat)

Saudi non-oil exports hit their highest-ever monthly level in June 2021, after reaching SAR23.5 billion, the Saudi Export Development Authority (Saudi Exports) said in a statement.

Exports in June went up by 40% from a year ago, when the country made exports with a total value of SAR16.8 billion, it said.

The number in June includes exports of products worth SAR21 billion, while the country made SR2.5 billion in re-exports of goods.

This year Saudi exports continued rising above the SAR20 billion mark, the statement said. This comes when the global economy is recovering from the pandemic, while the number of Saudi plants kept increasing beyond 10,000.

The Kingdom’s Minister of Industry and Mineral Resources Bandar bin Ibrahim al-Khorayef pointed out that authorities’ support has played a vital role in bringing non-oil export figures up and overcoming any challenges.

“We look forward to more efforts by the Saudi Export Development Authority and the Saudi Export-Import Bank,” said the minister.

In other news, authorities in the Kingdom amended draft regulations for maritime agents. The move is aimed at supporting exporters and the national industrial sector.

Saudi Arabia provided facilities such as reducing the bank guarantee in