Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

KSA nonoil balance of trade narrows by 7.4%  Join our daily free Newsletter

MENAFN - Arab News - 31/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) The value of Saudi Arabia's nonoil exports totaled SR18 billion in October, a record level for this year.
The latest NCB Saudi Economic Review said the 12.6 percent year-on-year surge is explained by the recent upward momentum in global manufacturing, heightening demand for input material.
Nonoil imports reached SR44.2 billion, short of last year's amount by 0.02 percent.
Accordingly, nonoil balance of trade narrowed by 7.4 percent year-on-year at the end of the month.
The weight of exports have also enjoyed a jump up by 9.4 percent year-on-year, measuring 4.1 mega tons.
The weight of imports, on the other hand, receded by 2.1 percent compared to last year, recording 5.9 mega tons.
Main nonoil exports include chemical products, which make up the largest portion of categories (31.7 percent), followed by plastics (29.9 percent), according to the NCB Saudi Economic Review.
Due to the essential nature of these major categories in manufacturing, they received a considerable boost during last month.
Contrasting with last year's October, chemical products and plastics grew by 9.6 percent to SR5.7 billion and 1.9 percent to SR5.4 billion, respectively.
Transport equipment have been gaining traction in 2013 as the fastest growing export category, rapidly surpassing base metals exports in value terms.
They currently account for 15 percent of total non-oil exports with a record growth pace of 127.2 percent, standing at SR2.7 billion.
The UAE regained its position in October as the largest export destination after lagging behind China for thee consecutive months. At SR2.6 billion, exports to UAE surged by 85.1% year-on-year, accounting for 14.4 percent of total nonoil exports.

China, which started to pick up steam, received exports from the Kingdom worth SAR2.5 billion, or 13.8 percent of total exports, up ticking by 22.7 percent year-on-year.
Exports to Singapore inched downwards by 1.2 percent compared to last year, making a sole SAR1 billion, an equivalent to 5.6 percent of total non-oil exports.
On the import side, the composition of the SR44.2 billion worth of imports show that 24.8 percent of imports were machinery and electrical equipment. Total value of this category in amounted to SR10.9 billion, which is 2.5 percent lesser than October 2012's figure.
The second largest import category was transport equipment rose by 1.6 percent compared to last annum, registering SR8.3 billion.
Imports of base metals fell by 8 percent Y/Y, making SR5.1 billion or 11.6 percent of imports, according to the review.
The NCB Saudi Economic Review for December 2013 added that Brent crude prices held steady above 108 a barrel since the start of the year, little changed from 111.7 a barrel in 2012, and 110.9 a barrel in 2011.
However, excess supply, attributed to US shale oil and a potential resurgence in exports from Iran, Iraq, and Libya may push prices lower in 2014 if productions cuts by other OPEC members are not made.
It is projected that Saudi Arabia, Kuwait, Qatar, and UAE would have to reduce their production by 1 million bpd to prevent an oil glut and keep prices stable above the 100 a barrel level.

 


Arab News




  MENA News Headlines
 May 4 2016 - Kuwait- Al-Ghanim receives head of Palestine cmte at Jordan's Parl'tKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT May 4 (KUNA) -- National Assembly Speaker Marzouq Ali Al-Ghanim on Wednesday received in his office visiting head of the Palestine Committee at the ...

 May 4 2016 - Kuwait- Sheikha Fariha urges care for Arab women refugeesKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) CAIRO May 4 (KUNA) -- It is crucial that maximum care and attention be given to refugee and displaced women and children caught up in wartime conditions in the ...

 May 4 2016 - Kuwait- Yemeni stakeholders conclude 1st session of direct talksKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT May 4 (KUNA) -- Yemeni parties involved in Kuwait consultations on Wednesday concluded their first session of face-to-face talks. The session was ...

 May 4 2016 - Kuwait- Info. Min. to embark on landmark visit to Ramallah Sat.Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT May 4 (KUNA) -- Minister of Information and Minister of State for Youth Affairs Sheikh Salman Sabah Al-Salem Al-Humoud Al-Sabah is set to commence a ...

 May 4 2016 - Jordan- Royal decree approves constitutional amendmentsJordan News Agency
(MENAFN - Jordan News Agency) Amman May 4 (Petra) -- A royal decree was issued on Wednesday approving the constitutional amendments in line with Article (31) of the Constitution and as referred from ...

 May 4 2016 - UAE's Etihad Airways : 31 injured by severe turbulence in AsiaJordan News Agency
(MENAFN - Jordan News Agency) Abu Dhabi May 4 (Petra) -- The United Arab Emirates' national Etihad Airways Wednesday said that several passengers were injured when one of its flights encountered ...

 May 4 2016 - Jordan- 75m children in desperate need of education support : UnicefJordan News Agency
(MENAFN - Jordan News Agency) Amman May 4 (Petra) -- Around 75 million school-age children in crisis areas around the world are in dire need of educational support the BBC said citing a new report by ...

 May 4 2016 - Davutoglu says Turkey ready to send ground troops to Syria if necessaryJordan News Agency
(MENAFN - Jordan News Agency) Amman May 4 (Petra) -- Turkish Prime Minister Ahmet Davutoglu Wednesday said that Ankara was in a position to send ground troops to Syria "if necessary". ...

 May 4 2016 - The Women in Parliaments Global Forum kicks off in AmmanJordan News Agency
(MENAFN - Jordan News Agency) Amman May 4 (Petra)--Deputizing for His Majesty King Abdullah II Senate President Faisal Al Fayez on Wednesday opened the Women in Parliaments Global Forum (WIP) which ...

 May 4 2016 - International conference of Internal Medicine kicks ofJordan News Agency
(MENAFN - Jordan News Agency) Amman May 4 (Petra) -- Under the Patronage of Her Royal Highness Princess Basma Bint Talal the 13th International Conference of Internal Medicine started late Tuesday . ...

 May 4 2016 - Jordan received attractive Gulf investment offers : JIC PresidentJordan News Agency
(MENAFN - Jordan News Agency) Amman May 4 (Petra) -- Jordan Investment Commission President (JIC) Thabet Al Wir Wednesday said the commission has received lucrative offers to invest in Jordan from ...

 May 4 2016 - Hundreds of Jewish settlers storm West Bank villageJordan News Agency
(MENAFN - Jordan News Agency) Ramallah May 4 (Petra) -- Hundreds of Jewish settlers on Wednesday rampaged through a Palestinian village in the occupied West Bank a Palestinian source said. Ghassan ...

 May 4 2016 - Jordan- Al Fayez meets US House of Representative delegationJordan News Agency
(MENAFN - Jordan News Agency) Amman May 4 (Petra) --Minister of Tourism and Antiquities Nayef Al Fayez met on Wednesday with a delegation of US congressional aides and briefed them on Jordan's ...

 May 4 2016 - Jordan- Agadir Agreement 's partnership meeting held in TunisiaJordan News Agency
(MENAFN - Jordan News Agency) Amman May 4 (Petra)-- A number of businessmen from Jordan Egypt Morocco and Tunisia took part at the Agadir Agreement 's partnership meeting recently held in Tunisia to ...

 May 4 2016 - Maximum temperature to cross 40 degree celsius in QatarThe Peninsula
(MENAFN - The Peninsula) Doha: The weather forecast for Qatar valid until 6pm Wednesday inshore will be hot during the day with slight dust to blowing dust at places by midday while offshore it ...

 May 4 2016 - UAE- Sheikha Lubna commends National Policy for ReadingEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 4th May 2016 (WAM) -- Sheikha Lubna bint Khalid Al Qasimi Minister of State for Tolerance and President of Zayed University has praised the ...

 May 4 2016 - Qatar adopts NATO Individual Partnership and Cooperation ProgrammeEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) BRUSSELS 4th May 2016 (WAM) -- The State of Qatar has approved the Individual Partnership and Cooperation Programme with NATO and handed over the agreement ...

 May 4 2016 - UAE- Humanitarian policies should precede any political decisions says Ruler of SharjahEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) KUALA LUMPUR 4th May 2016 (WAM) -- H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi Supreme Council Member and Ruler of Sharjah has emphasised the importance ...

 May 4 2016 - Abu Dhabi Airports awards FB contracts for Midfield Terminal Building to four global retailersEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 4th May 2016 (WAM) -- Abu Dhabi Airports announced today that Emirates Leisure Retail ELR HMSHost International Lagardere Capital and SSP four ...

 May 4 2016 - Emir of Kuwait receives UAE AmbassadorEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) KUWAIT 4th May 2016 (WAM) -- Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah Emir of Kuwait has received Rahma Hussein Al Zaabi the UAE Ambassador to Kuwait. ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help