Riyadh – Mubasher: Saudi Arabia has registered a surplus worth more than SAR 467.20 billion in its trade balance during the first half (H1) of 2022, compared with SAR 160.39 billion in the year-ago period.   

This represents a year-on-year (YoY) increase of 191.30% or SAR 306.81 billion, according to data collected by Mubasher based on figures from the Saudi General Authority for Statistics (GaStat).

During this year’s second quarter (Q2), the kingdom’s trade surplus amounted to SAR 258.86 billion, up 182.10% YoY from SAR 91.76 billion.

In H1-22, Saudi trade exchange grew by 56.10% on an annual basis to over SAR 1.12 trillion, compared with SAR 720.03 billion in the corresponding period in 2021.

In Q2-22, the kingdom’s merchandise trade exchange, including both imports and exports, reached SAR 600.77 billion, a rise of 61.20% when compared to SAR 372.60 billion in Q2-21.

It is worth noting that in the first six months (6M) of 2022, Saudi Arabia’s trade exchange with GCC states went up by 11% or SAR 18.19 billion ($4.84 billion) YoY to stand at SAR 71.59 billion ($19 billion).