Saudi non-oil exports grow 9.2pc
Riyadh, February 23, 2014
Saudi Arabia’s non-oil exports grew 9.2 per cent year-on-year in December as returns reached SR19.9 billion ($5.3 billion), said a report.
The steep rise in exports revenue is owed, by weight, to high demand for plastics, and base metals, said the Arab News report.
The bill of imports, however, shrunk 6.5 per cent compared to last year, standing at SR49.2 billion, it said.
Plastics, which made up 32.3 per cent of the kingdom’s exports, surged 10.1 per cent realising SR6.4 billion.
Chemical products which also weigh a sizable 32.3 per cent of exports retracted 8.7 per cent on an annual basis to SR6.4 billion.
Exports of base metals which weighed as much as 5.2 per cent of the monthly total soared by 8.6 per cent, amounting to SR1 billion.
China led in export destination, attracting SR 3.1 billion worth of exports or 15.6 per cent of the monthly total, up 33.5 per cent compared to last year.
The UAE was the second largest export destination with SR2.5 billion worth of exports accounting for 12.6 per cent of exports, which was followed by Singapore.