Riyadh – Mubasher: Saudi exports decreased during the first two months of 2020 by SAR 13.95 billion or 8.5% year-on-year (YoY).
Data by Saudi Arabia’s General Authority for Statistics (GaStat) showed that the kingdom’s exports amounted to SAR 149.29 billion in January and February 2020, compared with SAR 163.254 billion for the same period in 2019.
Saudi exports were affected by lower crude oil exports, which declined by 7.05% to SAR 117 billion, from SAR 117 billion in the corresponding period of last year, as oil exports dominated 78.4% of the total exports.
Similarly, non-oil exports fell by 13.6% to SAR 32.28 billion during the two-month period.
On the other hand, Saudi imports declined by 5.1% or SAR 4.4 billion to SAR 81.37 billion.
Saudi Arabia registered a trade balance surplus of SAR 67.92 billion, which is 12.1% lower than that achieved in the same period of 2019.
