The surplus of Saudi Arabia's foreign trade balance (oil and non-oil) increased by 52 percent on an annual basis, during the first four months of this year (from January to April 2021).
According to the data issued by the Saudi General Authority for Statistics (governmental), the trade balance surplus amounted to $25.4 billion. While the surplus in the trade balance of Saudi Arabia during the corresponding period of 2020, amounted to about 16.7 billion dollars.
The value of merchandise exports (oil and non-oil) increased by 23.1 percent to $75.7 billion, while imports rose by 12.3 percent to $50.3 billion. And the value of "oil" exports to Saudi Arabia rose by 20.7% to $54.5 billion.
Oil prices were significantly affected during the past year as a result of the outbreak of the “Coronavirus” on global demand for crude, which is the main source of income for Saudi Arabia, but it has since recovered, exceeding $75 at the present time.
The commodity trade surplus (oil and non-oil) of Saudi Arabia fell by 59.9 percent during 2020, amounting to $44 billion, compared to $109.6 billion in 2019.
Source (Anadolu Agency, Edited)
