Politics & News

Saudi Arabia’s Trade Balance Records Surplus of SAR 41,411 Billion

Saudi Arabia’s trade balance recorded a surplus of 41,411 billion riyals in April 2024, reaching its highest levels during the current year, according to preliminary data on international trade issued by the General Authority for Statistics.

It achieved growth on a monthly basis of 36%, with an increase value of 10,967 billion riyals compared to the surplus of 30,443 billion riyals in March of the same year.

The trade balance has achieved growth since the beginning of this year by more than 48.5%, with an increase value of 13,525 billion riyals.

The volume of the Kingdom’s international trade reached more than 162 billion riyals. The merchandise exports amounted to 101,708 billion riyals, representing 63% of the total trade volume.

Meanwhile, merchandise imports amounted to 60,297 billion riyals. National non-oil exports recorded a value of about 16,234 billion riyals in April 2024, constituting 16% of total exports.

Petroleum exports recorded a value of about 79,326 billion riyals, constituting 78% of total exports. The value of re-exports amounted to about 6,147 billion riyals, constituting 6% of total exports.

Regarding exports from various countries, China came in first place as the largest country to which Saudi Arabia exports, accounting for 16.6% of the Kingdom’s total merchandise exports, with a value of 16,925 billion riyals in April 2024. Japan came second with a value of 9,321 billion riyals, representing 9.2% of the total Merchandise exports. India was the third country with a value of 8,250 billion riyals, representing 8.1% of total merchandise exports.

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