Overall exports from Saudi Arabia climbed 90 percent on annual basis in October to 106 billion riyals ($28 billion), up from 55.9 billion riyals ($14 billion) recorded during the same period in 2020, according to data from the Kingdom’s General Authority for Statistics.
“This increase originated mainly from oil exports, which rose by 45.5 billion riyals ($12 billion), or 123 percent in the same period”, as the share of oil exports in total exports from the country jumped to 77.6 percent in October from 66 percent in the same period last year, said the authority's monthly trade report.
The kingdom’s non-oil exports increased by 25 percent year-on-year in October to 23.8 billion riyals ($6.3 billion) from 18.9 billion riyals ($5 billion) in October 2020.
They, however, decreased month-on-month by 1.5 billion riyals, or 5.9 percent ($400 million), according to government data.
Meanwhile, natural pearl and gemstone topped the list of UAE imports from Saudi Arabia with a value of approximately 2.7 billion riyals.
They were followed by minerals with a value of 1.5 billion riyals then mineral products with a value of 1.2 billion riyals during the third quarter of the current year.
This data was revealed in a report published by the Council for Saudi Chambers of Commerce and Industry.
The UAE came first among the GCC countries in terms of trade with the Kingdom.
Bilateral trade reached an estimate of 24 billion riyals in the third quarter of 2021, an increase of 16 percent compared to the same period in 2020.
In this context, Chairperson of Council of Saudi Chambers Mr. Ajlan bin Abdulaziz Al Ajlan described the Saudi-Emirati economic ties as distinguished.
