(MENAFN) The Saudi economy witnessed a healthy year causing businesses to expand and grow to meet the rising demand, Arab Times reported.
Saudi Arabia has blossomed in its fiscal surpluses due to a series of global and regional events which caused an increase in oil prices over the past few years.
The growing economy created substantial investment opportunities for other economies and trade ties are constantly improving.
Meanwhile, Saudi Arabia's eagerness to diversify away from oil, has led to the implementation of various projects to accomplish the country's goals of developing the nonoil sector.
Saudi nonoil exports by value rebounded and recorded a 14.9 percent annual growth in June, compared to a decrease of 5.1 percent during the previous month.
In June, the majority of nonoil exports were plastic products which account for USD1.65 billion, followed by chemical products at USD1.5 billion, registering a growth by 11.8 percent compared to June 2013.
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