The volume of foreign merchandise trade of the Kingdom of Saudi Arabia during the first seven months of this year amounted to about 645 billion riyals, compared to 919.5 billion riyals in the same period of 2019, recording a decline of 29.9 percent, or the equivalent of about 274.5 billion riyals.
The official data showed that the trade balance recorded a surplus of 87.2 billion riyals despite the repercussions of the pandemic, down 65.1 percent, equivalent to 162.8 billion riyals, compared to the surplus recorded in the same period of 2019 of about 249.95 billion riyals, as a result of the decline in exports at a higher rate than the decline in imports.
Merchandise exports fell 37.4 percent by about 218.6 billion riyals to reach 366.1 billion riyals, while it was about 584.7 billion riyals in the same period in 2019. While merchandise imports fell 16.7 percent by a value of 55.9 billion riyals, to about 278.9 billion riyals, while it was 334.8 billion riyals in the same period in 2019.
Last July, Saudi Arabia’s merchandise trade balance recorded a surplus of 13.5 billion riyals, after exports amounted to 51.1 billion riyals, compared to imports worth 37.7 billion riyals, so that foreign merchandise trade reached 88.8 billion riyals during the same month.
Source (Al-Arabiya.net, Edited)
