Saudi-GCC bilateral trade exceeds $10bln in 5 months

Saudi exports to the GCC amounted to $3.7bln, while its imports from the five Gulf nations stood at $6.4bln in the first five months of 2018

  
A Saudi money changer counts U.S banknotes at a currency exchange shop in Riyadh, Saudi Arabia September 29, 2016. Image used for illustrative purpose.

A Saudi money changer counts U.S banknotes at a currency exchange shop in Riyadh, Saudi Arabia September 29, 2016. Image used for illustrative purpose.

REUTERS/Faisal Al Nasser

Riyadh –  Trade exchange between Saudi Arabia and the GCC nations has surpassed SAR 37.8 billion ($10.1 billion) during the period between January and May, according to Mubasher's statistics based on the General Authority for Statistics’ (GASTAT) data.

Saudi exports to the GCC amounted to SAR 13.8 billion ($3.7 billion), while its imports from the five Gulf nations stood at SAR 24.1 billion ($6.4 billion) in the first five months of 2018.

The kingdom registered a non-oil trade deficit at a value of SAR 9.7 billion ($2.6 billion) from the January-May period of this year.

The UAE was the largest partner of Saudi Arabia after the kingdom exported at SAR 8.2 billion ($2.2 billion), against SAR 19.63 billion ($5.2 billion) in imports.

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