The Clap
Saudi Arabia’s balance of trade increased by 137.8%, to record a surplus of 88 billion riyals during last June.
The Deets
Data from the General Authority for Statistics revealed an increase in Saudi exports by 75.2% in June 2022, which amounted to approximately 147.7 billion riyals, compared to 84.3 billion riyals in June 2021.
Petroleum exports drove the increase, as it recorded a surplus of 57 billion riyals.
Imports also increased by 28.9% in the same month, reaching 59.9 billion riyals.
Why this Matters
China is Saudi’s main partner in commodities trading.
Saudi exports to China amounted to 63 billion riyals in Q2-2022, with India & Japan coming in 2nd & 3rd respectively in terms of trade activity with Saudi Arabia.
