A major exporter of oil and gas, the Arab country recorded a trade surplus. Top imports were mineral products and machinery.
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The month-on-month increase was primarily due to higher production of crude oil, petroleum, petroleum products, and natural gas.
The cement maker announced on Friday (13) the sale of its subsidiary with operations in the Arab country to German company Heidelberg Materials.
The Arab group has controlled the Brazilian company since the beginning of this year. The agreement also includes specialized training.
Last year, the Saudi economy was boosted by private consumption and non-oil investment. According to the IMF, the country is making progress in its diversification efforts. Non-oil GDP is expected to grow by 3.5% in 2024.
Edge Group, SIATT, and the Brazilian Navy signed a partnership to complete the development of armament for a new class of vessels.
Jordanian companies increased their exports of products such as food, plastics, leather, textiles, and pharmaceuticals in the first half of this year.
Brazilian economy grew 3.3% year on year in the second quarter and 1.4% compared to the first quarter. Services and industry sectors led growth in both comparisons.
According to a report by IATA, demand in the region witnessed a 14.7% year-on-year increase in July fueled by maritime tensions.
According to an IMF report, Egypt is showing signs of recovery, with a better inflation rate and positive results of the unification of the exchange rate.
Commodity sees price increase of up to 3% on Monday (26) due to news on oil production and export.
This year through July USD 31.6 million worth of goods were exported to Syria, a 276% increase compared to the same period last year. Imports are on the decline.
October will see the start of a major migration of import operations from Siscomex LI/DI to the National Single Window, which promises to reduce processing times and streamline procedures.
The Gulf state grossed USD 344.7 million from exports to Brazil year to date through July, up 78.5% compared to the same period in 2023. Exports from Brazil to Kuwait also stepped up but at a smaller pace and with a deficit balance.
