Saudi Arabia’s favorable balance of foreign trade grew five fold to SR 874.17 billion in 2011

Kingdom’s favorable balance of foreign trade grew from SR 150.65 billion in 2002 to a whopping SR 874.17 billion in 2011, according to a report of the Central Department of Statistics and Information. Crude oil and its derivatives, plastics, polypropylene, polyethylene, organic chemical products such as ethylene glycol, fertilizers and inorganic products, electric cables and conductors figured high in the list of goods exported from the Kingdom during the period. The US, Japan, China, South Korea, India, Singapore, Taiwan, Italy and Bahrain and the UAE were the major countries to which the Kingdom exported its goods, the report said. The value of Kingdom’s imports in the decade from 2002 to 2011, meanwhile, rose to SR 493.45 billion. China topped the list of Kingdom’s importers, followed by the US, Germany, Japan, South Korea, UAE, France, Italy, India and the UK. These countries accounted for 62 percent of the Saudi imports.
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