The Saudi General Authority for Statistics announced on Sunday that the value of the Kingdom's imports from Turkey rose in February 2021 compared to the previous month, while the total value of Saudi exports increased by approximately 3% year-on-year. Data from the authority showed that imports from Turkey reached 24.5 million riyals ($6.53 million) in February, up from 14.1 million riyals ($3.7 million) the previous month, but still down 98% year-on-year.
The authority clarified that the total value of Saudi exports increased by 3% year-on-year in February, thanks to non-oil exports, amounting to 65.8 billion riyals ($17.5 billion), up from 63.8 billion riyals ($17 million) in February 2020. Oil exports fell by 0.7 billion riyals ($186 million), a decline of 1.4% within the same period, and compared to the previous month, total Saudi exports dropped by 6.2 billion riyals ($1.6 billion) or 8.6%.
According to the statistics, China remains the top exporter to Saudi Arabia, while Turkey has fallen to the 67th position in terms of export value, down from the 11th position in February of last year. Data from the Turkish Exporters Assembly revealed that Turkey's exports to Saudi Arabia plummeted by approximately 93.7% in March, reaching $18.9 million compared to $298.2 million a year earlier.
Turkish exports to Saudi Arabia in the first quarter of this year decreased by about 93.1%, totaling $56.2 million, as reported by Reuters. In October of last year, calls for a complete boycott of Turkey regarding investment, tourism, and trade spread in Saudi Arabia, although no official stance from the Kingdom on this boycott has been issued. Leading Turkish business groups urged in October to take action to improve trade relations with Saudi Arabia.
