(MENAFN) According to official data, the rate of Saudi Arabia's imports from the United Arab Emirates (UAE) in August rose by about 31 percent month on month, going back from a decline in July after the kingdom forced new policies on imports from other Gulf countries.
data from the General Authority for Statistics showed that in July, imports from neighboring UAE increased to 4.1 billion riyals (USD1.09 billion) from 3.1 billion riyals.
UAE imports rose by about 47 percent, on a yearly basis.
After a 33 percent drop in July, the monthly improvement comes, as Saudi Arabia altered rules on imports from other Gulf Cooperation Council (GCC) countries to reject goods made in free zones or using Israeli input from preferential tariff concessions, this move is considered as a challenge the UAE's status as the region's trade and business hub.
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