Saudi trade surplus soars to SR43.735 billion in September

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Saudi Gazette report

RIYADH — Saudi Arabia’s commerce stability reported a considerable surplus of SR43.735 billion in September 2023, marking the third-highest month-to-month surplus of the yr.

Notably, it reached its peak in April and the second-highest in February.

The Kingdom’s worldwide commerce for September amounted to SR163.911 billion, with commodity exports contributing SR103.823 billion and commodity imports at SR60.088 billion.

Among the many export locations, Asian nations (excluding Arab and Islamic nations) took the lead, accounting for 55.03% of whole Saudi commodity exports, equal to SR57.129 billion.

EU nations adopted intently, securing 11.2% of whole exports at SR11.582 billion, whereas the Gulf Cooperation Council nations ranked third, receiving 11.1% of whole exports valued at SR11.536 billion.

China emerged as the highest recipient of Saudi exports in September, comprising 18.3% of the overall at SR18.992 billion.

Japan claimed the second spot with items value SR11.374 billion, representing round 11% of whole Saudi commodity exports.

South Korea secured the third place, receiving items valued at SR10.247 billion, accounting for 9.9% of whole Saudi commodity exports.

The preliminary worth of non-oil exports, together with re-exports, reached SR20.701 billion, facilitated by way of 32 customs crossings.

King Fahd Industrial Port recorded the very best worth of non-oil exports for September, totaling SR3.254 billion, constituting 15.7% of whole exports.

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