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The Arab Society for Investment Guarantee and Export Credit “Daman” said the value of trade in goods and services in the Arab region is expected to decline 22% to $ 1.804 trillion during the year 2020, due to the new Corona virus and its accompanying. measures, according to the Middle East Regional Outlook Report And Central Asia, released by the International Monetary Fund in October 2020.
In its first quarterly bulletin for the year 2021 (January-March 2021), the company added that this was due to the drop in exports by 27.3% and imports by 16.2% during the same period.
The export decline rates of Arab countries are expected to be between 7.7% and 51.1% during the year 2020.
And she continued, “On the other hand, the International Monetary Fund expects trade in goods and services in Arab countries to grow at a rate of 11.4% during the year 2021, for example. compared to the previous year as an expected reflection of the increase. in export value of 13.2%, in particular with the improvement in oil prices and revenues as well as the expected increase in imports at the rate of 9.7% during the same period.
Trade in goods and services in Arab countries fell 3.8%, from $ 2,486.6 trillion in 2018 to $ 2,393 trillion in 2019, and the decline is due to a 5.2 trillion drop in exports. % from $ 1.306 trillion in 2018 to $ 1.238 trillion in 2019, along with a drop in imports. 2.1%, from $ 1.18 trillion in 2018 to $ 1.155 trillion in 2019.
In the year 2019, the share of trade in goods and services of Arab countries stabilized at around 4.8% of total world trade in goods and services, representing $ 50 trillion, including exports and imports. .
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