Arábia Saudita Balança Comercial

Saudi Arabia’s trade surplus narrowed to SAR 28 billion in August 2024, down from SAR 35.4 billion in the same month of the previous year. Year-on-year, exports dropped by 9.8% to SAR 92.8 billion, weighed by lower sales of oil products (-15.5%), accounting for 70.3% of total exports. Meanwhile, non-oil exports rose by 7.5%, primarily driven by increased sales of chemical products (9.3%) and plastics, rubbers & their products (1%). As for the major destinations, China held the highest share of exports at 16%, followed by South Korea (9.6%), and India (9.5%). Meanwhile, imports fell at a softer rate of 3.9% from a year earlier to SAR 64.8 billion, due mainly to reduced purchases of machinery, electrical equipment and parts (-5.6%) and transportation equipment & parts (-11.7%). Among main suppliers, China also held the largest share in shipments, constituting 22.2%, followed by the US (9.6%) and India (6.2%).