Official statistics show that the Saudi imports of processed gold dropped to 84 tons in the first half of 2001, valued at 2.5 billion Saudi Riyals, reported Al-Watan . This import volume implies a 7.4 percent fall compared with the first half of the previous year. The value of Saudi gold and jewelry imports hit five billion Saudi Riyals ($1.3 billion) in 1999 and SR 4.6 billion in 2000. Market sources related the gold import fall to the global recession. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
