RIYADH: Saudi Arabia’s revenues from customs duties edged up by 12.2 per cent in 2014 to SAR27.9 billion, of which SAR3.4bn was paid by the government as subsidies for certain commodities.
According to a report by the Saudi Customs, the Kingdom’s imports picked up by three per cent in 2014 to SAR652bn, while exports soared by eight per cent to SAR190bn.
Most of the Kingdom’s customs revenues were collected at maritime entry points and came from the Jeddah Islamic Port and the King Abdulaziz Port Dammam, the data published by Al Eqtisadiah reveals.
Customs personnel seized 109 million counterfeit and contraband items and goods.
The report says customs duties incurred by the government in order to subsidise a number of key goods and commodities totalled SAR3.4bn in 2014.
Customs duties collected at the Kingdom’s seaports reached SAR20.2bn (38 per cent of the total), while duties collected at airports reached SAR1.9bn, comprising eight per cent of the total and land entry points netted SAR1.5bn.
The report indicates that the value of re-exports amounted to SAR31.6bn, down by six per cent compared with 2013. Approximately 35.5 per cent of the Kingdom’s imports came through the Jeddah Islamic Port.
