RIYADH: Saudi Arabia’s trade balance registered a surplus of SAR 43.735 billion in September 2023, marking the third-highest monthly surplus of the year, reported Saudi Press Agency on Tuesday.
According to Saudi Arabia’s recent preliminary international trade data, the surplus had peaked in April, reaching its highest level, and secured the second-highest position in February.
In September, Saudi Arabia’s international trade reached SAR 163.911 billion, with commodity exports contributing SAR 103.823 billion and commodity imports standing at SAR 60.088 billion.
Asian countries, excluding Arab and Islamic countries, emerged as the top recipients of Saudi Arabian exports, accounting for 55.03% of the total Saudi commodity exports, equivalent to SAR 57.129 billion. Following closely, the EU countries secured the second position, receiving 11.2% of the total Saudi commodity exports, valued at SAR 11.582 billion. The Gulf Cooperation Council countries ranked third, receiving 11.1% of the total Saudi commodity exports, with a value standing at SAR 11.536 billion.
In terms of individual countries, China secured the top spot as the largest recipient of Saudi exports in September, constituting 18.3% of the total at SAR 18.992 billion. Japan followed in second place, receiving goods worth SAR 11.374 billion, accounting for around 11% of total Saudi commodity exports. South Korea came in third, receiving goods worth SAR 10.247 billion, making up 9.9% of the total exports.
The initial value of non-oil exports, including re-exports, reached SAR 20.701 billion, exported through 32 customs crossings. King Fahd Industrial Port recorded the highest value of non-oil exports for September, totaling SAR 3.254 billion, accounting for 15.7% of the total.
