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.
US President Donald Trump's December 6 announcement that his administration has decided to unilaterally recognise Jerusalem as Israel's capital was described as “against international law” by ... more
Iranian President Hassan Rouhani on November 21 declared the end of the so-called Islamic State militant and terrorist group following decisive battles in Iraq and Syria. Stating that he wished to ... more
Iran is taking control of oil exports from Iraqi Kurdistan's giant Kirkuk field with Baghdad authorising the move as a reward for the Iranians' help in quelling the Kurds' late September push for ... more