The reserve assets of Saudi Arabia abroad during last December amounted to 1724.4 billion riyals (about 460 billion dollars), as foreign exchange accounted for about 95 percent of the reserve of Saudi assets abroad, at a value of 1630.8 billion riyals. While the rest of the reserves, amounting to 93.6 billion riyals, according to the monthly statistical bulletin of the Central Bank of Saudi Arabia, were distributed to investments in securities abroad, reserves with the International Monetary Fund, special drawing rights, and monetary gold.
In parallel, the total value of Saudi merchandise exports grew by 3.6 percent on an annual basis last November, recording 113 billion riyals ($30.1 billion). At a time when the Kingdom’s reserve assets abroad decreased during December 2022 by 45.6 billion riyals to 1724.4 billion riyals (about 460 billion dollars), compared to November 2022. According to data issued by the Saudi General Authority for Statistics, exports in the corresponding period of 2021 amounted to 109 billion riyals.
The increase in exports was driven by an increase in the value of petroleum exports by 11.8 percent in November on an annual basis, to reach 90 billion riyals.
Source (Al-Araby Al-Jadeed Newspaper, Edited)
