Saudi exports rise as global trade rebounds

DUBAI: Saudi exports rose in February led by the plastics sector, according to new government trade data.


Overall merchandise exports increased by 3 percent in February 2021 to SR65.8 billion ($17.5 billion) compared to a year earlier, Saudi Arabia's General Authority for Statistics said on Sunday.

It said the increase originated mainly from non-oil exports.

A raft of recent trade trade data from around the world has pointed to a strong global rebound as consumers start to increase spending as some economies emerge from lockdown. However the resurgence of the coronavirus in major economies such as India has tempered optimism.
 

The share of oil exports in total exports decreased to 71.7 percent (February 2021) from 74.9 percent (February 2020).

The value of imports amounted to SR40.4 billion in February 2021 compared to SR43 billion a year earlier.
 

 

Vehicles and transport equipment imports fell by almost 28 percent as the pandemic kept more people at home and reduced the need for transportation.

 

Source: https://www.zawya.com/mena/en/economy/story/Saudi_exports_rise_as_global_trade_rebounds-SNG_209188428/

 

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