Saudi’s Ministry of Commerce & Investment announces Korea trade growth

South Korean financing accounts for foreign direct investment across 117 localised ventures.

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It ranks South Korea as Saudi’s fifth biggest trading partner.
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It ranks South Korea as Saudi’s fifth biggest trading partner.

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Electrical appliances, machinery, iron and steel are among the top imports from South Korea into Saudi Arabia, the kingdom’s government has reported.

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Saudi’s Ministry of Commerce & Investment announced that trade volume between the two countries peaked at $30billion in 2018, representing year-on-year growth of more than a fifth (21%).

It ranks South Korea as Saudi’s fifth biggest trading partner.

According to the ministry, South Korean financing accounts for foreign direct investment across 117 localised ventures in the fields of construction, manufacturing, electricity, gas, steam, air conditioning, information and communication.

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