Saudi trade surplus leaps 82% in 2018

Saudi trade surplus leaps 82% in 2018
Saudi exports jumped 32.8%, or SAR 273.01 billion, logging SAR 1.104 trillion in 2018

By: Elsayed Gamal

Riyadh – Mubasher: Saudi Arabia’s trade balance surplus surged 82.6%, or SAR 270.42 billion ($72.11 billion), to SAR 597.48 billion in 2018, from SAR 327.06 billion ($87.21 billion) in 2017, Mubasher reported, citing data from the kingdom's General Authority for Statistics (GaStat) as saying.

The highest surplus achieved by the oil-rich nation was in October 2018 at a value of SAR 61.9 billion, followed by June 2018 with SAR 58.3 billion.

Higher exports, imports 

Saudi exports jumped 32.8%, or SAR 273.01 billion, logging SAR 1.104 trillion last year, up from SAR 831.51 billion in 2017, according to Mubasher statistics.

On the other hand, the kingdom’s imports edged up SAR 2.59 billion, or 0.5%, to SAR 507.04 billion in 2018, from SAR 504.45 billion a year earlier.

Saudi foreign trade

The total value of Saudi trade exchange with foreign partners surged 20.6%, or SAR 275.61 billion, to SAR 1.611 trillion from January to December period of 2018, up from SAR 1.335 trillion in 2017.

 

Translated by: Mohammad Hesham Azab