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Official data showed today, Wednesday, that the value of Saudi Arabian imports from Turkey fell to an all-time high in December.
Imports from Turkey amounted to 50.6 million riyals ($ 13.49 million) in December, compared to 182.2 million riyals in November, a decrease of 72.2%, and 1.06 billion riyals in December 2019, according to the Saudi General Statistics Authority. And December’s value is the lowest for at least a year.
Saudi businessmen and retailers last year called for a ban on imports from Turkey as part of an unofficial boycott of Turkish goods.
And private sector specialists said last October that Saudi Arabia’s industrial sector was able to offer alternatives to Turkish products.
They pointed out that Saudi Arabia has a major industrial value which covers the sectors of food, building materials, equipment and manufacturing of consumer goods and products, capable of enhancing local value and covering any deficit in imports for any reasons that may arise or future conflicts resulting from a change in the direction of economic policy.
According to specialists, it sends reassuring messages from the domestic market to the home consumer, especially after real experience during the coronavirus pandemic, and how the government and the private sector were able to cope with the crisis and provide all the products, especially the main ones, with stable prices in the market without shortage of supply.
This strengthens market power in the face of the results of the recent popular campaign to boycott Turkish products in Saudi Arabia, which saw the interaction of various institutions and companies operating in different commercial and industrial sectors.
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