Follow-ups -eshrag News:
UAE, China remain Saudi Arabia’s leading non-oil export destinations despite a decline: GASTAT
RIYADH: The UAE’s share in Saudi Arabia’s non-oil exports including re-exports dropped to 14.81 percent in the first quarter this year, down from 14.87 percent the previous quarter, according to the initial data released by the General Authority for Statistics.
In the first quarter of 2022, Saudi Arabia exported non-oil goods worth SR11.52 billion ($3 billion) to its neighboring country, SR343 million less than in the fourth quarter of 2021.
The drop is partly due to a decline in transport equipment exports, which made up 27.54 percent of the UAE’s share of (Saudi) exports in the first quarter this year. Exports in this goods group fell from SR4 billion in the last quarter of 2021 to SR3.17 billion in Q1 this year.
On the other hand, the Kingdom’s exports of machinery, optical goods and pearls to the UAE increased by SR330 million, SR170 million and SR99 million, respectively.
Despite the fall, the UAE remains the leading destination for non-oil exports from the Kingdom, followed by China and India.
Non-oil Saudi exports to China reached 12.22 percent, dropping from 13.26 percent from the previous quarter.
The Kingdom’s non-oil exports to China fell by SR1.1 billion to SR9.51 billion in the first quarter of 2022.
This drop is attributed mainly to a decline in the value of exports of chemical products to SR5 billion from SR5.87 billion in the last quarter. Exports of plastics and transport equipment also declined by a total of SR685 million. This decline, however, was partly offset by a $461 million increase in the value of base metals shipped to China in the first quarter of 2022.
Noting that the news was copied from another site and all rights reserved to the original source.