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

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

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.