UAE represents 69% of GCC trade exchange with Saudi Arabia in August

The UAE accounted for around 69.3 percent of Saudi Arabia’s trade exchange with the GCC in August, worth SAR 4.61 billion, according to the data published by the Saudi General Authority for Statistics (GASTAT).

Non-oil merchandise trade exchange between Saudi Arabia and the GCC nations plummeted 3.2 percent year-on-year (YoY) in August, reaching SAR 6.65 billion as compared to SAR 6.87 billion, the data revealed.

The decrease was attributed to a 7.8 percent drop in Saudi non-oil merchandise exports, registering SAR 2.42 billion in August from SAR 2.63 billion in the same month in 2017. 

On the other hand, Saudi imports from the GCC nations decrease marginally YoY to SAR 4.23 billion during August compared to SAR 4.25 billion.