Saudi Arabia’s imports from Turkey increased in February
Official data indicate that the value of Saudi Arabia’s imports from Turkey increased in February compared to the previous month, but remained much lower than last year, following an unofficial boycott from the Kingdom.
Data from the Saudi General Authority for Statistics showed on Sunday, that imports from Turkey amounted to 24.5 million riyals ($ 6.53 million) in February, up from 14.1 million riyals a month ago, but remain 98 percent lower on an annual basis.
Saudi Arabia has never publicly acknowledged a boycott of Turkish goods, but Saudi businessmen took the action last year in response to what they described as hostility on the part of Ankara.
Relations between the two countries were troubled in 2018, following the assassination of Saudi journalist Jamal Khashoggi inside the Saudi consulate in Istanbul.
Some Turkish exporters have referred to commodity routes as a bypass solution, exporters and traders told Reuters, and Turkey raised the issue last month during a meeting of the World Trade Organization’s Goods Council in Geneva.
Turkey plunged to 67th in terms of exports to the kingdom, from 11th in February last year, according to data that showed China still ranked first.
The authority said the total value of Saudi exports rose 3 percent year-on-year in February thanks to non-oil exports.
Exports amounted to 65.8 billion riyals, up from 63.8 billion in February 2020, but oil exports fell by 0.7 billion riyals, equivalent to 1.4 percent in the same period.
Compared to the previous month, total Saudi exports decreased by 6.2 billion riyals, or 8.6 percent.
