Saudi non-oil imports grow faster than exports in 2012

By bne IntelliNews June 7, 2013

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.

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