Saudi Arabia posts $ 12.26 billion trade surplus in July


Riyadh – Mubasher: Saudi Arabia posted a trade surplus of SAR 46.13 billion in July this year, compared to SAR 10.78 billion the same month in 2020, official data showed on Wednesday.

The Kingdom exported goods worth SAR 91.76 billion in July 2021, an increase of 79.6% from SAR 51.08 billion in the same month last year when international trade increased. been affected by the COVID-19 pandemic.

The increase was mainly attributed to oil exports, which jumped SAR 37.5 billion (112.1%) year-on-year in July 2021. The share of oil exports in Saudi Arabia’s overall exports rose to 77.4% in July this year from 65.5% over the same period in 2020.

On a monthly basis, total merchandise exports increased by SAR 7 billion (8.2%) in July compared to June 2021, according to the Saudi General Statistics Authority (GaStat).

Non-oil exports soared 17.9% year-on-year in July 2021 to SAR 20.8 billion from SAR 17.6 billion in July 2020. Plastics, rubber and plastic articles, which accounted for 37, 6% of Saudi Arabia’s non-oil merchandise exports increased by 2.5 SAR. billion (47.7%) in July of this year.

On a monthly basis, non-oil exports in July fell by SAR 2.9 billion (12.3%) from June.

As for imports, their value increased from SAR 5.3 billion (13.2%) to SAR 45.6 billion in July 2021 against SAR 40.3 billion in July 2020.

The ratio of non-oil exports to imports rose to 45.5% in July 2021, from 43.7% in the same month last year.

China has retained its position as Saudi Arabia’s main trading partner for exports and imports, which stood at SAR 18 billion and SAR 9.9 billion, respectively, in July this year.

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