The Statistical Center for the Gulf Cooperation Council states revealed that the GCC countries' foreign merchandise trade movement (not including intra-trade) achieved growth in its total value during the year 2021 by about 36.4 percent, which amounted to about $1.146 trillion, compared to $840.7 billion in 2020.
According to the center, the volume of trade exchange witnessed a decrease during the year 2020, affected by the decrease in the value of total merchandise exports of the GCC countries, while it rose again during 2021.
The total merchandise exports of the GCC countries during 2021 amounted to $668.6 billion, an increase of 52.5 percent compared to the previous year, as the national exports of the GCC countries amounted to $564.4 billion, an increase of 57.2 percent compared to 2020. The value of re-exported goods amounted to $104.2 billion, an increase of 30.9 percent compared to 2020. While total merchandise imports increased by 18.8 percent compared to 2020, reaching $478 billion in 2021.
The GCC merchandise trade balance surplus increased by 423.9 percent to reach $190.6 billion in 2021, compared to $36.4 billion for the year 2020.
Source (Al-Rai Kuwaiti Newspaper, Edited)
