Saudi Arabia Records a Surplus of $8.1 Billion

#SaudiArabia records a trade surplus of 30,401 billion Riyals ($8.1 billion) in October 2023, with the total international trade volume reaching 178,210 billion Riyals ($47.5 billion).

🔸️ Exports and Imports
▪️ Exports: 104,306 billion Riyals ($27.8 billion)
▪️ Imports: 73,904 billion Riyals ($19.7 billion)
– Machinery, electrical equipment, and parts accounted for 22.3% of total imports.
– Transport equipment and parts followed at 19.4%.

🔸️ Key Trading Partners of Saudi Arabia
▪️ #China: 19,545 billion Riyals ($5.2 billion), 18.7% of exports
▪️ #Japan: 12,259 billion Riyals ($3.3 billion), 11.8% of exports
▪️ #India: 10,190 billion Riyals ($2.7 billion), 9.8% of exports
▪️ South #Korea: 10,033 billion Riyals ($2.7 billion), 9.6% of exports
▪️ #UAE: 5,069 billion Riyals ($1.35 billion), 4.9% of exports

🔸️ #Ports and #Transportation in Saudi Arabia
▪️ King Fahd Industrial Port in Jubail: 4,231 billion Riyals ($1.13 billion), 19.2% of non-petroleum exports
▪️ 32 diverse customs outlets for exporting non-petroleum goods valued at 22,028 billion Riyals ($5.9 billion)

🔸️ Trade Performance Analysis of Saudi Arabia
This surplus reflects significant growth in the Saudi trade sector, driven by economic diversification and the enhancement of non-oil exports.

🔸️ Impact on the National Economy of Saudi Arabia
This achievement contributes to strengthening the Saudi economy and is a testament to the effectiveness of the economic and trade policies in place.

Source: linkedin