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KSA's trade surplus totals SAR 118.2bn in 9M

KSA's trade surplus totals SAR 118.2bn in 9M
KSA's trade exchange hit SAR 835.02 billion in the January-September period in 2020.

Riyadh – Mubasher: Saudi Arabia recorded a trade surplus of SAR 118.15 billion during the first nine months of 2020, down by 62.1% from SAR 311.9 billion in the same period in 2019.

The GCC nation’s trade exchange amounted to SAR 835.02 billion in the January-September period in 2020, a decline of 28.3% when compared to SAR 1.16 trillion in the prior-year period, according to data collected by Mubasher based on official figures.

In the third quarter (Q3) of the year, the kingdom’s trade surplus fell by 50.2% on a year-on-year (YoY) basis to stand at SAR 44.64 billion, compared with SAR 89.68 billion in the year-ago quarter.

Meanwhile, trade exchange shrank by 26.7% on an annual basis to reach SAR 279.03 billion.  

In September, the Gulf country achieved SAR 12.77 billion in trade surplus, down by 63.37% YoY, driven by an annual drop in trade exchange by 22.2%.