|12 June, 2019

Saudi-GCC trade surges 20% YoY in Q1

UAE led Saudi Arabia’s trade partners

The Kingdom Tower seen at dusk in central Riyadh - Saudia Arabia, December 11, 2003. Image for illustrative purposes.

The Kingdom Tower seen at dusk in central Riyadh - Saudia Arabia, December 11, 2003. Image for illustrative purposes.

REUTERS/Peter MacDiarmid

Riyadh – Mubasher: The trading exchange between Saudi Arabia and the UAE, Bahrain, Kuwait, and Oman declined by 19.11% year-on-year during the first quarter of 2019.

The Saudi-GCC trade, excluding Qatar, reached SAR 21 billion ($5.6 billion) in Q1-19 versus SAR 23.182 billion ($6.17 billion) in the year-ago period, according to data compiled by Mubasher.

UAE led Saudi Arabia’s trade partners, recording SAR 13.4 billion ($3.6 billion) in the first quarter of 2019.

Meanwhile, the kingdom’s trade with Dubai registered $3.6 million from January to March.

Saudi non-oil exports to the GCC hit SAR 7.188 billion in the three-month period ended 31 March.

The kingdom’s non-oil imports from the region reached SAR 13.79 billion ($3.6 billion).

Translated by: Muhammad Abdul-Wakeel

Source: Mubasher Exclusive

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