Saudi Arabia’s trade surplus leaps 99% in 9M

Saudi Arabia’s trade surplus leaps 99% in 9M
The Kingdom’s trade surplus registered SAR 432.61 billion ($115.36 billion) from January to September

By: El Sayed Gamal

Riyadh – Mubasher: Saudi Arabia's trade surplus leaped 99.3% year-on-year, or SAR 215.5 billion ($57.5 billion), in the first nine months of 2018, according to the General Authority for Statistics’ (GASTAT) data.

The Kingdom’s trade surplus registered SAR 432.61 billion ($115.36 billion) from January to September, against SAR 217.11 billion ($57.9 billion) in the same period a year earlier, Mubasher reported, citing the Saudi state-run statistics agency.

The total value of the GCC’s merchandise exports jumped 37.7%, or SAR 223.48 billion, to SAR 816.87 billion in the January-September period of this year, against SAR 593.39 billion in the year-ago period.

Saudi imports increased by 2.1%, or SAR 7.98 billion year-on-year, to SAR 384.26 billion in the nine-month period ended September, from SAR 376.28 billion.

In the third quarter of 2018, the oil-rich kingdom logged a 124.5% trade surplus, logging SAR 162.64 billion, up from SAR 72.44 billion during Q3-17.