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Saudi-Turkiye trade grows 73.7% in June

This picture taken December 12, 2019 shows a view of the sign showing the logo of Saudi Arabia's Stock Exchange Market (Tadawul) bourse in the capital Riyadh. - Energy giant Saudi Aramco's market value soared above $2 trillion as its share price surged again on its second day of trading. The valuation milestone was sought by Saudi Crown Prince Mohammed bin Salman when he first floated the idea of selling up to five percent of Aramco, the world's largest oil firm, about four years ago. Aramco shares jumped another 9.7 percent to 38.60 riyals ($10.3) on Thursday morning, following a 10-percent rise the previous day. (Photo by FAYEZ NURELDINE / AFP) (Photo by FAYEZ NURELDINE/AFP via Getty Images)
This picture taken December 12, 2019 shows a view of the sign showing the logo of Saudi Arabia's Stock Exchange Market (Tadawul) bourse in the capital Riyadh [FAYEZ NURELDINE/AFP via Getty Images]

The volume of trade between Saudi Arabia and Turkiye increased 73.7 per cent in June amid an improvement in diplomatic and economic relations between the two countries.

According to the data released yesterday by Saudi Arabia's General Authority for Statistics, the kingdom's trade with Turkiye rose to $622 million in June from $358 million in the same month of 2021.

Saudi exports to Turkiye increased by $608 million last June, recording a 74.4 per cent growth, compared to $348 million in the same month of 2021.

Saudi Arabia's imports from Turkey rose by 47.3 per cent from $9.8 million in June 2021, reaching $14.4 million in June 2022.

The primary Saudi non-oil exports to Turkiye are chemicals and minerals, while machinery, mechanical devices and electrical equipment are the main Saudi imports from Turkiye.

READ: Aramco profits rise 82% in the first quarter of 2022

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Europe & RussiaMiddle EastNewsSaudi ArabiaTurkey
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