Data from the Saudi General Authority for Statistics (GASTAT) showed that the trade balance surplus rose by 13 percent, in February, to SAR32 billion ($8.5 billion), compared to SAR28 billion ($7.4 billion) in January, but registered a decrease of 21.8 percent, on an annual basis.
In its monthly International Trade Bulletin, GASTAT said the Kingdom’s merchandise exports declined by 2 percent on an annual basis to SAR95 billion ($25 billion) in February, affected by a drop in oil exports by 3.8 percent.
According to the data, non-oil exports, which include re-exports, rose by 4.4 percent during February, on an annual basis, to SAR21.8 billion ($5.8 billion). In contrast, Saudi imports increased by 12.3 percent on an annual basis during February to SAR63 billion ($16.7 billion).
China ranked first among Saudi export destinations with a rate of 13.2 percent, followed by Japan and India. China also topped the list of suppliers to the Kingdom with a rate of 19.9 percent, followed by the United States and India with rates of 8 percent and 7 percent, respectively.
