Saudi Arabia’s trade surplus reaches $3.8bn despite export decline

Saudi Arabia recorded a merchandise trade surplus of 14.36 billion Saudi riyadh, equivalent to approximately $3.83 billion, in July. Official preliminary figures released by the General Authority for Statistics indicate that the positive trade balance was achieved despite an overall decline in exports.

The reduction in the trade surplus was partially cushioned by a simultaneous fall in imports. According to the data, merchandise exports experienced a significant year-on-year decrease of 17.2 percent during the month.