Saudi Arabia’s non-oil exports suffered a major decline of 17 per cent or SAR9.5 billion in the second quarter of the current year to SAR46.6bn against SAR56.1bn in the same period last year.
Official data reveals that 40.7 per cent of the kingdom’s non-oil exports went to five countries: the United Arab Emirates, China, India, Egypt and Singapore.
The country’s central department of statistics and information said in a report that imports dipped by 2.2 per cent or SAR3.8bn in the second quarter to a total of SAR166.2bn down from SAR170bn in the same period of 2014.
Quarter-on-quarter, the kingdom’s non-oil exports inched down by one per cent while imports showed an increase of 2.3 per cent to SAR47.1bn and SAR162.5bn respectively, the report published by the Saudi Press Agency indicates.
The department noted that the country’s non-oil exports covered only 28 per cent of imports compared with 33 per cent in the corresponding quarter last year.