Saudi trade exchange with 4 Gulf countries falls 6.1% in 2020

Saudi Arabia's trade exchange with the four GCC states was $26.15bln in 2020

  
Image used for illustrative purpose. A cargo ship unloads wheat at the Red Sea port of Hodeida, Yemen October 1, 2017.

Image used for illustrative purpose. A cargo ship unloads wheat at the Red Sea port of Hodeida, Yemen October 1, 2017.

REUTERS/Abduljabbar Zeyad

Riyadh –  Saudi Arabia’s trade exchange with the UAE, Bahrain, Kuwait, and Oman slid by 6.06% in 2020 when compared to a year earlier.

The kingdom’s trade exchange with the four GCC states was SAR 98.1 billion ($26.15 billion) in 2020, compared with SAR 104.47 billion ($27.84 billion) in 2019, according to data collected by Mubasher based on figures from the General Authority for Statistics (GaStat).

The UAE took the lion’s share of the trade exchange with the kingdom as it dominated 68.43%. Trade exchange between the two Gulf countries reached SAR 67.155 billion ($17.9 billion) in 2020, compared to SAR 71.3 billion ($19 billion) in 2019.

Oman took the second spot with a trade exchange of SAR 12.64 billion ($3.36 billion) last year from SAR 13.13 billion ($3.5 billion) a year earlier, representing 12.88%.

Bahrain held the third position with SAR 10.858 billion ($2.9 billion) in trade exchange during 2020 from SAR 11.08 billion ($2.9 billion) in 2019, accounting for 11% of the overall value.

Kuwait tailed the list with a trade exchange of SAR 7.47 billion ($1.99 billion) in 2020, compared to SAR 8.95 billion ($2.38 billion) in 2019, representing 7.6% of the total value.

Source: Mubasher Exclusive

All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From GCC