{"id":189241,"date":"2021-03-09T09:05:30","date_gmt":"2021-03-09T09:05:30","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=189241"},"modified":"2021-03-09T09:05:33","modified_gmt":"2021-03-09T09:05:33","slug":"saudi-turkish-trade","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/saudi-turkish-trade\/","title":{"rendered":"Saudi-Turkish trade fall as Egypt&#8217;s exports increase to Kingdom"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Saudi-Turkish trade have decreased according to data from the Saudi statistics authority.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In December, imports from Turkey totaled SR50.6 million ($13.5 million), down 95% from SR1.02 billion a year earlier. This is the lowest figure since the Kingdom started to publish monthly data five years ago.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Meanwhile, according to the Saudi Arabian General Authority for Statistics, trade between Saudi Arabia and Egypt has been increasing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Saudi-Turkish trade<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Last December, data from the Saudi statistics authority&nbsp;<a href=\"https:\/\/www.stats.gov.sa\/en\/325\" target=\"_blank\" rel=\"noreferrer noopener\">showed<\/a>, that Turkish businespeople have been subjected to an unofficial boycott.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Turkish statistics agency posted a 78% drop in Turkish exports to Saudi Arabia in December 2020.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Turkish exports to Saudi dropped around 95% on an annual basis<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Although some of the decline is caused by the coronavirus pandemic, both countries have different views on the role of their shared dominant religion, Islam, in politics.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Turkish President Recep Tayyip Erdogan champions Islam as a foundation for a popular political movement while Gulf monarchies fear it could erode their 1authority.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Relations soured further after the 2018 murder of Saudi government critic Jamal Khasshoggi at the kingdom\u2019s consulate in Istanbul.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Exports in Saudi Arabia, the largest economy in the Arab world, rose 12% in the fourth quarter from the previous three months as global trade showed signs of rebound from the pandemic.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">They were down 26% to 180.8 billion riyals from a year earlier.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Saudi-Egyptian trade<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">On the other hand, Egypt&nbsp;exported $2.07B to&nbsp;Saudi Arabia in 2019. The main products that&nbsp;Egypt&nbsp;exported to&nbsp;Saudi Arabia&nbsp;were&nbsp;Refined Petroleum&nbsp;($331M),&nbsp;Hot-Rolled Iron&nbsp;($150M), and&nbsp;Citrus($116M).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">During the last 24 years the exports of Egypt to Saudi Arabia have increased at an annualized rate of 10.2%, from $203M in 1995 to $2.07B in 2019.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In 2019,\u00a0Egypt\u00a0did not exported services to\u00a0Saudi Arabia.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read more:<\/strong> <a href=\"https:\/\/www.bnreport.com\/purchasing-managers-index\/\">Jobs decline in Saudi Arabia lowers Purchasing Managers\u2019 Index<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi-Turkish trade have decreased according to data from the Saudi statistics authority. In December, imports from Turkey totaled SR50.6 million ($13.5 million), down 95% from SR1.02 billion a year earlier. This is the lowest figure since the Kingdom started to publish monthly data five years ago. Meanwhile, according to the Saudi Arabian General Authority for [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":189245,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[160,576,1037],"class_list":["post-189241","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-egypt","tag-saudi-arabia","tag-turkey"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Saudi-Turkish trade fall as Egypt&#039;s exports increase to Kingdom - Bnreport<\/title>\n<meta name=\"description\" content=\"Bnreport - Saudi-Turkish trade have decreased according to data from the Saudi statistics authority.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/saudi-turkish-trade\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saudi-Turkish trade fall as Egypt&#039;s exports increase to Kingdom - 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