Trade balance surplus in Saudi Arabia jumps 137.8% to SAR 88 billion in June

Saudi Arabia’s exports of goods would climb by 75.2% in June 2022, according to figures released by the Saudi General Authority for Statistics today, Wednesday.


Exports amounted to about 147.7 billion riyals, compared to about 84.3 billion riyals in June 2021.


In a report, the authority attributed the increase to an increase in petroleum exports by 57 billion riyals, or 94.1%, to 117.69 billion riyals during June 2022.


The percentage of petroleum exports out of the total exports increased from 71.9% in June 2021 to 79.7% in June 2022.


The value of merchandise exports increased by 3.4 billion riyals, by 2.3%, compared to May 2022.


Non-oil exports, including re-exports, increased by 26.8% to 30.1 billion riyals in June 2022, compared to 23.7 billion riyals in 2021.


The value of non-oil exports increased by 1.9 billion riyals, or 6.8%, compared to May 2022.


Imports rose by 28.9% in June 2022 to 59.9 billion riyals, compared to 46.5 billion riyals in June 2021.


The value of imports also increased by 5.3 billion riyals, or 9.7%, compared to May 2022.


The trade surplus rose to 88 billion riyals in June 2022, compared to 37 billion riyals in June 2021, a rate of 137.8%.


Second Quarter


Non-oil exports increased in the second quarter of this year by 31% on an annual basis, to reach 86 billion riyals, the most important of which are the products of chemical industries and those related to them.


Total exports recorded a growth of 85% to 430 billion riyals.


As for imports, they jumped in the second quarter by 22% to reach 171 billion riyals, compared to the same period last year.


China was the Kingdom’s main partner in commodity trade, as Saudi exports to it in the second quarter amounted to 63 billion riyals, making China the main destination for exports, followed by India and Japan.

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