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Saudi-French trade rises to SR455bn in 20 years

Saudi-French trade rises to SR455bn in 20 years

The volume of trade between Saudi Arabia and France reached SR454.71 billion in the last 20 years (1994-2013) with a growth rate estimated at 166.7 percent, according to a financial report.

France came in the 11th rank among countries to which the Kingdom sent exports by the end of 2013 at SR 32.2 billion, or 2.3 percent of Saudi Arabia’s total exports to foreign countries, the report carried by Al-Eqtisadiah daily said.

The trade balance between the two countries registered a surplus in favor of the Kingdom in 17 years. France registered surpluses in only 3 years — 1998 (SR406 million), 2009 (SR2.9 billion) and 2010 (SR656 million).

However, trade balance witnessed a robust growth at 69.3 percent in favor of the Kingdom in 2013 at SR 5.13 billion compared to figures of 2012, the report said.

Back in 1994, trade exchange between the two countries stood at SR12.3 billion whereas the lowest level of trade came in 1998 at SR11.3 billion. The highest level of trade exchange happened last year (2013) at SR51.8 billion, according to the report.

On the other hand, Saudi exports to France dropped in seven years, notably in 1995, 1997, 1998, 2001, 2006, 2007 and 2009.

As regards Saudi imports from France, the Kingdom imported goods valued at SR19.7 billion by the end of 2013, an increase of 5.7 percent compared to figures of 2012, representing some 3.1 percent of the Kingdom’s total imports in 2013, the report said.