Riyadh – Mubasher: Saudi Arabia's trade surplus registered a 101% year-on-year jump or SAR 164.6 billion (43.9 billion) for the full fiscal year 2017, compared to a year earlier.
The kingdom posted a trade surplus of SAR 327.43 billion ($87.3 billion) last year, compared to SAR 162.79 billion ($43.4 billion) in 2016, according to the General Authority for Statistics’ (GASTAT) report on Wednesday.
The value of Saudi merchandise exports rose 20.8% to SAR 831.88 billion ($221.8 billion) in 2017, from SAR 688.42 billion ($183.6 billion) in the year before, the GASTAT added.
The kingdom's merchandise exports consist of oil and non-oil exports.
Oil exports jumped 25% or SAR 127.67 billion ($34 billion) to SAR 638.4 billion ($170.24 billion) in 2017, compared to SAR 510.73 billion ($136.2 billion) in the previous year.
Oil exports rose to 76.7% from total exports of 2017, from 74.2% in the year before.
Year-on-year, Saudi non-oil exports increased 8.9% or SAR 15.79 billion ($4.2 billion) to SAR 193.48 billion ($51.6 billion) during 2017, up from SAR 177.69 billion ($47.4 billion) in the prior year.
The ratio of non-oil exports to total exports fell to 23.3% in the previous year, compared to 25.8% in 2016.
Imports decreased by 4% or SAR 21.19 billion to SAR 504.45 billion ($134.52 billion) for the full year 2017, from SAR 525.64 billion ($140.17 billion) during 2016.
