Boycott brought down Saudi imports from Turkey by 72% in December

Saudi Arabia's position in the world economy qualifies it to lead the World Trade Organization
Saudi Arabia's position in the world economy qualifies it to lead the World Trade Organization

The value of Saudi Arabia's imports from Turkey; fell by 72 percent to a record low in December 2020, reaching SR50.6 million; down from SR182.2 million in the previous month.

According to the latest figures of the General Authority; for Statistics (GASTAT) published on Wednesday, the December value is the lowest in the volume of imports from Turkey; in at least a year.

It is noteworthy that during last year Saudi businessmen and retailers called for a ban on imports from Turkey apparently; in an unofficial boycott of Turkish goods.

Several business experts in the private sector; said in October 2020 that the Saudi industrial sector is able to provide alternatives to Turkish products.

They also emphasized that Saudi Arabia has a major industrial value that covers the sectors of food; building materials, equipment, and the manufacture of consumer goods and products.

The Saudi economy is also capable of enhancing the local value and covering any deficit of imports for any reasons that may occur or future disputes resulting from a change in economic policy orientations; they pointed out.

The business specialists noted that this sends reassuring messages to consumers in the domestic market; especially after an actual experience during the coronavirus pandemic, and how the government and the private sector were able to face the crisis and provide all commodities, especially the main ones, with stable prices in the market without a shortage of supply.

This strengthens the market power in the face of the results of the recent popular campaign to boycott Turkish products in Saudi Arabia, which also witnessed interactions among various institutions and companies operating in different commercial and industrial sectors.

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