Latest news with #Gulf Cooperation Council
Khaleej Times
3 days ago
- Business
- Khaleej Times
Saudi-GCC non-oil trade surplus achieves 203% annual growth: GASTAT
The non-oil trade surplus of Saudi Arabia with the Gulf Cooperation Council (GCC) countries recorded an annual growth rate of 203.2% to more than SAR2 billion in April. It soared to around SAR3,511 million from SAR1,158 million in the same month last year. According to preliminary data from the International Trade Bulletin for April, published by the General Authority for Statistics (GASTAT), the total volume of non-oil trade, including re-exports, between Saudi Arabia and GCC countries amounted to around SAR18,028 million. This reflects a year-on-year growth of 41.3%, with an increase of SAR5,271 million from SAR12,757 million in April 2024. Non-oil commodity exports, including re-exports, rose by 55%, totaling SAR10,770 million, up from SAR6,958 million in April of the previous year, an increase of over SAR3,812 million, Saudi Press Agency (SPA) reported citing the GASTAT figures. Meanwhile, the value of national non-oil commodity exports reached around SAR3,031 million, compared to SAR2,675 million in April 2024, achieving a year-on-year growth rate of 13.3%, with an increase estimated at SAR356 million. Additionally, the value of re-exports surged by 81%, reaching SAR7,738 million compared to SAR4,282 million, an increase of SAR3,456 million. Saudi Arabia's imports from GCC countries stood at SAR7,258 million in April 2025, compared to SAR5,799 million last year, achieving a year-on-year growth of 25.2%, with an increase of SAR1,459 million. The data indicated that the United Arab Emirates ranked first in terms of non-oil trade volume with Saudi Arabia, amounting to SAR13,533 million, representing about 75.1% of the total. Bahrain followed in second place with a trade value of SAR1,798 million (10%), while Oman ranked third with SAR1,454 million (8.1%). Kuwait was fourth with SAR819.9 million (4.5%), and Qatar came next with a value of SAR422.1 million (2.3%).
Arab News
3 days ago
- Business
- Arab News
Croatian PM receives GCC chief in Dubrovnik
DUBROVNIK: Gulf Cooperation Council Secretary-General Jasem Albudaiwi was received by Croatian Prime Minister Andrej Plenkovic at the Dubrovnik Forum in Dubrovnik, Croatia, on Saturday. During the meeting, the two sides discussed the 'latest developments in free trade agreement negotiations and a proposal to hold a joint Gulf-European conference on energy security,' the General Secretariat said in a report. They also reviewed relations between the GCC and Croatia, and discussed ways to develop and strengthen ties to serve mutual interests.
Arabian Business
5 days ago
- Business
- Arabian Business
Saudi Arabia's non-oil trade surplus with GCC nations soars 203 per cent to $937m in April 2025
Saudi Arabia's non-oil trade surplus with Gulf Cooperation Council (GCC) countries surged by an impressive 203.2 per cent year-on-year in April 2025, reaching SR2bn ($533m), up from SR1.16bn ($310m) in the same month of 2024, according to preliminary data released by the General Authority for Statistics (GASTAT). The total non-oil trade volume, which includes re-exports, between the Kingdom and its GCC neighbours rose to SR18.03bn ($4.81bn), marking a 41.3 per cent annual increase compared to SR12.76bn ($3.41bn) in April 2024. Saudi non-oil trade with GCC Key figures from April 2025: Non-oil commodity exports (including re-exports): SR10.77bn ($2.87bn), up 55 per cent from SR6.96bn ($1.85bn) National non-oil exports: SR3.03bn ($807 million), up 13.3 per cent from SR2.68bn ($714 million) Re-exports: SR7.74bn ($2.06bn), up 81 per cent from SR4.28bn ($1.14bn) Imports from GCC countries: SR7.26bn ($1.94bn), up 25.2 per cent from SR5.80bn ($1.53bn) The strong performance in re-exports played a major role in lifting the overall surplus and reflects Saudi Arabia's growing role as a regional trade hub. GCC trade partners ranked by volume Bahrain: SR1.80bn ($481 million), 10 per cent share Oman: SR1.45bn ($388 million), 8.1 per cent share Kuwait: SR819.9 million ($219 million), 4.5 per cent share Qatar: SR422.1 million ($113 million), 2.3 per cent share The April 2025 data underscores Saudi Arabia's successful diversification strategy under Vision 2030, with robust growth in non-oil trade reinforcing its economic resilience and strengthening regional ties within the GCC.
Asharq Al-Awsat
5 days ago
- Business
- Asharq Al-Awsat
Saudi-GCC Non-Oil Trade Surplus Achieves 203% Annual Growth
The non-oil trade surplus of Saudi Arabia with the Gulf Cooperation Council (GCC) countries recorded an annual growth rate of 203.2% to more than SAR2 billion in April, reported the Saudi Press Agency on Friday. It soared to around SAR3,511 million from SAR1,158 million in the same month last year. According to preliminary data from the International Trade Bulletin for April, published by the General Authority for Statistics (GASTAT), the total volume of non-oil trade, including re-exports, between Saudi Arabia and GCC countries amounted to around SAR18,028 million. This reflects a year-on-year growth of 41.3%, with an increase of SAR5,271 million from SAR12,757 million in April 2024. Non-oil commodity exports, including re-exports, rose by 55%, totaling SAR10,770 million, up from SAR6,958 million in April of the previous year, an increase of over SAR3,812 million. Meanwhile, the value of national non-oil commodity exports reached around SAR3,031 million, compared to SAR2,675 million in April 2024, achieving a year-on-year growth rate of 13.3%, with an increase estimated at SAR356 million. Additionally, the value of re-exports surged by 81%, reaching SAR7,738 million compared to SAR4,282 million, an increase of SAR3,456 million. Saudi Arabia's imports from GCC countries stood at SAR7,258 million in April 2025, compared to SAR5,799 million last year, achieving a year-on-year growth of 25.2%, with an increase of SAR1,459 million. The data indicated that the United Arab Emirates ranked first in terms of non-oil trade volume with Saudi Arabia, amounting to SAR13,533 million, representing about 75.1% of the total. Bahrain followed in second place with a trade value of SAR1,798 million (10%), while Oman ranked third with SAR1,454 million (8.1%). Kuwait was fourth with SAR819.9 million (4.5%), and Qatar came next with a value of SAR422.1 million (2.3%).
