60% Growth in the Saudi Non-Oil Exports during a Year
The Ministry of Commerce and Investment announces that the volume of trade exchange between Saudi Arabia and the Republic of South Korea has grown by 21% in 2018, compared to 2017, to reach 30 billion dollars. This increase has been supported by 60% growth in the non-oil exports. This is a positive indicator that goes in line with the objectives of the Kingdom's Vision 2030.
MCI reveals that South Korea ranks fifth in terms of trade exchange with Saudi Arabia, where the value of the Saudi exports to S. Korea reached $ 26 billion last year, compared with $ 4.3 billion, which represent the Saudi imports from S. Korea.
Metal products topped the list of goods exported from the Kingdom of Saudi Arabia to South Korea, along with organic and inorganic chemicals, copper, plastics and other products, while the cars and their parts come as the most important goods imported from South Korea, followed by appliances, equipment, machinery, iron and steel.
MCI has pointed out that the number of foreign direct investment from South Korea in the Kingdom amounted to 117 investments, including several activities, namely: construction, transformative industries, electricity, gas, steam and air conditioning, information and communication, professional, scientific and technical activities and others.
Notably, Mining, metals, energy, water, housing and industrialization are among the most important targeted sectors for investment between the two