Data from the Saudi General Authority for Statistics showed a decrease in merchandise exports by 9.7 percent in December 2023, to about 98.5 billion riyals, compared to about 109.1 billion riyals in December 2022. This came as a result of the decrease in petroleum exports by 15.8 percent, equivalent to about 13.5 billion riyals, to 72 billion riyals in December 2023, compared to about 85.5 billion riyals in December 2022. While non-oil exports (including re-exports) recorded an increase of 12 percent to reach 26.5 billion riyals in December 2023, compared to 23.6 billion riyals in December 2022. The trade balance surplus reached about 39 billion riyals in December 2023, compared to 44 billion riyals in December 2022, a decrease of 11.4 percent.
Source (Al-Arabiya.net Website, Edited)
