Saudi non-oil exports grew by 6.5% y/y to SAR 1.5tn (USD 386.6bn) in 2012, the Central Department for Statistics and Information said in an annual report. The mining sector claimed the lion’s share of exports accounting for 87% of the total, followed by petrochemicals and rubber products. Exports registered healthy gains across all major industries with exports of mining products going up by 6.2% SAR 1.266tn, petrochemicals by 10.2% to SAR 68.34bn, rubber products by 7% to SAR 58.49bn, transportation by 37% to SAR 13.88bn, base metals by 6.2% to SAR 10.74bn and food and beverage by 7.8% SAR 5.53bn. Over 57.89% of Saudi exports were destined to five countries: the United States, Japan, China, South Korea and India, in that order.
Meanwhile, Saudi non-oil imports jumped by 18.2% y/y to SAR 583bn (USD 155.4bn) in 2012 led by electrical equipment and products followed by transportation equipment. Imports of electrical products were up 17.5% to SAR 154bn, of transportation equipment increased by 34.2% to SAR 103.54bn, of base metals went up by 21.3% to SAR 80.36bn and of chemical products rose 14.8% to SAR 48.2bn. Imports were mainly sourced from the United States, China, Germany, Japan and South Korea, in that order.
The United Arab Emirates’ (UAE’s) global port operator Dubai Ports World on March 24 signed two framework agreements to acquire stakes in Kazakhstan’s two Special Economic ... more
The odds on the Trump administration attempting to kill the Iran nuclear deal substantially shortened on March 13 with the firing-by-tweet of US Secretary of State Rex Tillerson and his replacement ... more
Algerian national energy company Sonatrach has struck a deal with Turkey's Ronesans and Bayegan to build a petrochemical plant worth $1bn in Turkey, Turkish President Recep Tayyip Erdogan said on ... more