MUSCAT, JULY 29
The total trade exchange between countries of the Gulf Cooperation Council and Hong Kong increased by 30.91% to reach a value of $14.4 billion in 2021, up from $11 billion in 2020, according to the GCC Statistics Center.
Exports from the GCC to Hong Kong witnessed a remarkable increase of 34.88% in 2021, amounting to a total of $11.6 billion in comparison to $8.6 billion in 2020.
Precious stones and metals, valued at $9.4 billion, made up 81% of exports. This was followed by miscellaneous commodities which made up for 6.1% of exports with a value of $0.7 billion.
Electrical machinery and equipment represented 5.2% of exports with a value of $0.6 billion, followed by clocks and watches which made up for 4.3% with a value of $0.5 billion.
Moreover, iron and steel exports and machinery and mechanical appliances exports both made up for 1.7% of exports with a value of $0.2 billion each.
On the other hand, imports from Hong Kong to the GCC increased 16.67% to reach a value of $2.8 billion in 2021 in comparison to the previous year.
Precious stones and metals represented a majority of imports (46.4%), with a value of $1.3 billion, followed by luggage and personal items which made up for 32.1% of imports with a value of $0.9 billion.
Apparel articles made up for 10.7% of imports with a total value of $0.3 billion, followed by other commodities made up for 7.2% of imports with a value of $0.2 billion.
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