Arábia Saudita Balança Comercial

Saudi Arabia’s trade surplus narrowed to SAR 28.2 billion in January 2024 from SAR 38.1 billion in the same period a year earlier. Year-on-year, exports decreased by 10.3% to SAR 94.9 billion, mainly due to lower sales of oil products (-13.5% to SAR 71.0 billion), accounting for 74.8% of total exports. On the other hand, shipments of non-oil products rose 0.8% to SAR 24.0 billion, primarily driven by increased sales of transport equipment (96.5%), and machinery & mechanical appliances (65.1%). Among major destinations, China constituted the highest share of 15%, followed by South Korea (10.3%), and Japan (10.1%). Meanwhile, imports fell at a softer 1.4% to SAR 66.7 billion, weighed by decreased purchases of transport equipment (-7.9%), and machinery & mechanical appliances (-1.1%). As for the main suppliers, China also held the largest portion (20.4%), along with the US (7.8%), and UAE (6.7%).