Saudi Arabia posts SR19.9bn in December nonoil exports
According to a report by Saudi Arabia’s National Commercial Bank (NCB), the country’s nonoil exports grew 9.2% year-on-year in December, as returns reached SR19.9bn, Arab News has reported. Stimulated economic activity in China and developed economies created a growth spurt in global demand for input materials, including the kingdom’s exports of plastics and base metals, the bank said. On the other hand, the bill of imports fell 6.5% year-on-year to SR49.2bn. This monthly development narrows the balance of trade gap by 14.8% compared to last annum, NCB said.