Saudi Arabia Achieves Record $11 Billion Trade Surplus
Saudi Arabia has reported a historic trade surplus of SAR41.411 billion ($11.03 billion) in April 2024, marking a significant 36% increase from the previous year’s surplus of SAR30.443 billion ($8.1 billion), according to data released by the General Authority for Statistics (GASTAT). This surplus reflects the Kingdom’s robust trade performance amidst global economic dynamics.
The total international trade volume for Saudi Arabia in April exceeded SAR162 billion, with goods exports amounting to SAR101.708 billion, comprising 63% of the total trade. Imports totaled SAR60.297 billion, underscoring the Kingdom’s net export strength.
Asia emerged as the largest market for Saudi exports, accounting for 50.2% of total exports, followed by the European Union and GCC countries. China, Japan, and India were the top individual importers of Saudi goods, reflecting diversified export destinations.
Non-oil exports, including re-exports, were channeled through various customs outlets and ports, with the King Fahd Industrial Port in Jubail recording the highest value of SAR3.594 billion.
