Industrial exports end year at $3.5 billion

Exports of industrial products up by seven percent in 2011, growth 74 percent slower than 2010

The value of industrial exports totaled $3.5 billion in 2011, up by around seven percent from 2010, according to figures published by the Ministry of Industry. Industrial exports had posted an annual growth of almost 27 percent in 2010.

Exports of pearls, precious, and semi-precious stones (not including gold ingots) totaled $930.8 million in 2011, surging by 41.4 percent on an annual basis, and constituting 26 percent of industrial exports.

Exports of base metals and base metal articles stood at $525.4 million, while those of machinery and mechanical appliances totaled $519.2 million. Exports of chemical products amounted to $383.7 million, up by an annual 23.7 percent.

Industrial imports totaled $238.6 million, up by around five percent compared to 2010.