The Kingdom of Saudi Arabia achieved an increase in the value of merchandise exports during February 2022 by 64.7% on an annual basis; supported by the increase in the value of petroleum exports.
The value of Saudi exports jumped; According to the monthly report issued by the General Authority for Statistics, it reached SAR 108.4 billion last February, compared to SAR 65.8 billion in February 2021.
The rise in Saudi exports came; with an increase in the value of petroleum exports by 78.1% during February 2022 on an annual basis, with an increase of SAR 36.8 billion.
The value of Saudi oil exports amounted to SAR 83.99 billion in February 2022, compared to SAR 47.15 billion in the same month of 2021.
The percentage of petroleum exports out of the total exports increased from 71.6% in February 2021 to 77.5% in the same month of this year.
At the level of the import bill, it increased during February 2022 by 18.2% on an annual basis, with an increase of SAR 7.4 billion.
The Kingdom of Saudi Arabia achieved a remarkable increase in the trade balance surplus during February 2022 on an annual basis
The value of the Kingdom’s merchandise trade increased by 46.9% during February 2022 to SAR 156.72 billion, compared to SAR 106.66 billion in the same month last year.