Saudi trade surplus hits $44bln in 2020

Last year, the Gulf country’s trade exchange slid by 25.9%

  
An employee counts Saudi Riyals bills at a money exchange office in central Cairo, Egypt, March 20, 2019. Image for illustrative purposes.

An employee counts Saudi Riyals bills at a money exchange office in central Cairo, Egypt, March 20, 2019. Image for illustrative purposes.

REUTERS/Mohamed Abd El Ghany
The trade surplus of the kingdom was SAR 19.92 billion in December 2020.

Riyadh – Mubasher: Saudi Arabia achieved SAR 164.98 billion in trade surplus during 2020, down by SAR 245.45 billion or 59.8% on a year-on-year (YoY) basis, according to data collected by Mubasher based on official figures.

In December 2020, the trade surplus of the kingdom was SAR 19.92 billion, the highest since February 2020.

During the first nine months of 2020, the trade surplus reached SAR 118.15 billion, down by 62.1% from SAR 311.9 billion in the year-ago period.

Last year, the Gulf country’s trade exchange slid by 25.9% or SAR 402.19 billion YoY, while merchandise trade stood at SAR 1.15 trillion.

In the fourth quarter (Q4) of 2020, the trade surplus totalled SAR 46.63 billion, a YoY decline of 52.7%, and merchandise trade fell by 18.9% annually to reach SAR 314.92 billion.

Source: Mubasher

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