23.4 billion riyals is the value of Saudi Arabia’s imports of iron and steel in 9 months

Saudi Arabia’s imports of iron and steel in the first nine months of this year amounted to about 11.8 million tons, with a total value of about 23.4 billion riyals.

According to statistical data issued by the General Customs Authority, which Al-Eqtisadiah has reviewed, Saudi imports of iron and steel decreased by 3.5 million tons, by 22.8 percent from the beginning of 2020 until September 30, compared to the same period last year, which amounted to 15.3. Million tons, worth 31.4 billion riyals.

Saudi Arabia imported iron and steel products from several countries including China, Japan, the Emirates, India, Germany, Oman, Sweden, South Korea, Bahrain, the United States, Jordan, Egypt, Indonesia, Malaysia, Brazil, Taiwan, France, Spain, Argentina, and Britain. .

It is noteworthy that the volume of investments in the iron and steel sector in Saudi Arabia amounted to about 50 billion riyals.

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Arab Iron and Steel Union ( AISU ) was established in Algeria in 1971 as the first Arab union of Arab countries to be established under the umbrella of the Council of Economic Unity in the League of Arab States.

AISU is a non-governmental organization of a private nature, not of a political or commercial nature.

AISU works in the field of preparing studies, organizing courses and holding periodic conferences for the prosperity of the Arab iron and steel industry. The union includes a wide range of companies with multiple activities related to the iron and steel industry.

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