The Arab Investment and Export Credit Guarantee Corporation (Daman) revealed that the value of Arab trade in goods and services declined during 2023 by 3.7 percent to reach $ 3.4 trillion, as a result of the decline in exports by 9.2 percent to 1.8 trillion, compared to the growth of imports by 3.3 percent to about 1.6 trillion.
According to the institution, the decline in Arab trade in goods by 7.2 percent to 2.61 trillion came as a result of the decline in merchandise exports in the region by 13.4 percent to reach 1.42 trillion, compared to the growth of imports by 1.6 percent to reach 1.2 trillion, and as a result, the merchandise trade balance surplus decreased by 50.8 percent to reach 232.1 billion.
