Riyadh – Mubasher: Saudi Arabia’s trade balance surplus totalled SAR 73.72 billion in the first half (H1) of the year, a decrease of 67.98% when compared to SAR 230.22 billion in H1-19, according to data compiled by Mubasher based on official figures.
The surplus contracted during the current-year period as merchandise trade was affected by the quarantine measures adopted worldwide because of the coronavirus outbreak and by June and April’s values, which recorded a deficit of SAR 1.03 billion and SAR 969 million, respectively.
January posted the highest trade surplus of SAR 43.31 billion.
In the first quarter (Q1), the kingdom reported a surplus of SAR 73.74 billion, whereas the second quarter saw a sharp plunge in surplus at SAR 28 million.
Saudi merchandise trade shrank by 28.6% yearly in the January-June period, reaching SAR 556.19 billion from SAR 779.38 billion in the year-ago period.
The first quarter accounted for 57.88% of overall foreign trade with SAR 321.94 billion, compared with SAR 234.25 billion registered in Q2-20.
The kingdom’s exports decreased by 37.6% on an annual basis in H1-20, equivalent to SAR 189.84 billion. The exports stood at SAR 314.96 billion in the current-year period.
Moreover, the value of exports amounted to SAR 197.84 billion in Q1-20 and SAR 117.11 billion in Q2-20.
Additionally, Saudi imports tumbled by 12.1% yearly or SAR 33.34 billion over H1-20 to stand at SAR 241.24 billion.
During the first and second quarters of the year, the imports registered SAR 124.1 billion and SAR 117.14 billion, respectively.
Saudi trade surplus plummeted by 38.3% annually in Q1-20.
