THE BUSINESS OF INTERNATIONAL TRADE
THE BUSINESS OF INTERNATIONAL TRADE
Figures released by the General Authority for Statistics (GASTAT) in Saudi Arabia reported that Saudi exports to 70 countries around the world recorded a 100% increase during the month of June 2021 while compared to the same period in 2020 when international trade was affected by the lockdown and travel ban due to the outbreak of the coronavirus pandemic.
The increase came mainly from the increase in petroleum exports by SR96.5 billion (126.1%). The proportion of petroleum exports out of the total exports rose to 72.5% in the second quarter of 2021 as against 63.9% in the second quarter of 2020. Non-oil exports recorded an increase of 52.1% percent, reaching SR65.7 billion with the most important commodities being plastics, rubber and their products.
China topped the main destinations for Saudi exports, followed by India and Japan with South Korea, the United States of America, the United Arab Emirates, Egypt, the Netherlands, Singapore and Taiwan among the top 10 export markets.
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