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Saudi trade surplus falls to SAR 12.8bn in September

Saudi trade surplus falls to SAR 12.8bn in September
Saudi merchandise exports fell by 31.1% in September YoY.

Riyadh – Mubasher: Saudi Arabia registered a trade surplus of SAR 12.77 billion in September 2020, down by 63.37% or SAR 22.09 billion from SAR 34.86 billion in the year-ago month.

The decline in the kingdom’s trade surplus during September was driven by a lower trade exchange by 22.2% on a year-on-year (YoY) basis to SAR 93.86 billion, as shown by official data.

Saudi merchandise exports fell by 31.1% in September to stand at SAR 53.32 billion, with petroleum exports sliding by 38.7% or SAR 22.16 billion YoY.

Non-petroleum exports stood at SAR 18.21 billion in September, an annual drop of 9.3%.  

Likewise, imports of the GCC nation decreased by 5.5% yearly in September to reach SAR 40.55 billion.  

On a monthly basis, the Gulf country’s trade surplus declined by 30.56% and trade exchange was down by 2.6%.