By: Elsayed Gamal
Riyadh – Mubasher: Saudi Arabia's imports of arms, ammunition, their parts, and supplies inched down 0.7% year-on-year in the fourth quarter of 2017.
The kingdom’s imports amounted to SAR 4.497 billion ($1.2 billion) during Q4-17, compared to SAR 4.53 billion ($1.21 billion) in the same quarter a year earlier, Mubasher's statistics showed, based on the data of the Saudi General Authority for Statistics (GASTAT).
Arms imports represented 3.7% of Saudi merchandise imports in Q4-17, the data highlighted.
The value of merchandise imports fell 2.8% to SAR 122.07 billion ($32.55 billion) during Q4-17, compared to SAR 125.62 billion ($33.5 billion) in the corresponding period the year before.
In May 2017, the Saudi Public Investment Fund (PIF) announced establishing Saudi Arabian Military Industries (SAMI) in an effort to raise Saudisation in the military industries to 50%.
During February 2018, the Saudi Defense Ministry organised the Armed Forces Exhibition for Diversity of Requirements and Capabilities (AFED) 2018.
Translated by: Mohamed Hesham Azab
