The value of Saudi Arabia’s oil exports dropped by 65% year-on-year in May, or a fall of nearly $12 billion, official data showed on Thursday.
Compared with April, total exports – including non-oil exports of goods such as chemicals and plastics – decreased by 1.6%, or about $160 million, the General Authority for Statistics said.
Saudi Arabia, the world’s largest oil exporter, is facing a deep recession this year amid the coronavirus crisis and lower oil revenues.
Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.
It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.
Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.
General Secretariat
Tel +21323304221 – +21323304239
Fax +21323304254
Mail: [email protected]
Cairo Regional Office
Tel +20233356219 Fax +20233374790
Mail: [email protected]
