UAE tops GCC trade exchange with Saudi Arabia in July: report

The UAE commanded about 72 percent of Saudi Arabia’s trade exchange with the GCC, amounting to SAR 5.26 billion in July, according to the data published by the General Authority for Statistics (GASTAT).

Trade exchange between the two GCC states posted a SAR 2.42 billion surplus for the UAE as the Kingdom’s exports stood at SAR 1.42 billion compared to SAR 3.84 billion in imports, the data revealed.

Bilateral trade between Saudi Arabia and its GCC neighbors rose to SAR 7.31 billion, an increase by 14.4% year-on-year, as compared to SAR 6.39 billion.

Kuwait posted the second-highest trade exchange with Saudi Arabia with imports of SAR 509 million as against SAR 140 million in exports, the data mentioned.

Bahrain ranked third with a SAR 223 million surplus, after its exports reached SAR 528 million, against Saudi imports at a value of SAR 305 million.