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FinancialNews
28-11-19
Saudi-GCC trade retreats by 6.8 percent in 9 M
(MENAFN) Trade exchange between Saudi Arabia and other member countries in the Gulf Cooperation Council (GCC), namely the UAE, Kuwait, Bahrain, and Oman, drew back by 6.8 percent year-on-year (YoY) in the first nine months of 2019.
Saudi-GCC trade exchange amounted to USD19.78 billion since the beginning of 2019 until the end of September, compared with USD 21.25 billion for the same period last year, A Mubasher survey based on the most recent data by the Saudi General Authority for Statistics (GASTAT) showed.
This has mainly resulted from a decline in bilateral trade with the UAE, Saudi Arabia biggest Arab and Gulf trade partner.
MENAFN2811201900450000ID1099339348
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