Saudi Arabia’s total exports increased by 32% in 2018

Media IN Riyadh – Mubasher:  29-05-2019

Saudi Arabia’s total exports increased by 32.69% to SAR 1.104 trillion, marking the highest rate since 2014, during the year ended 31 December 2018, versus SAR 831.88 billion in the same period of the prior year.

The GCC nation’s oil exports jumped by 36% year-on-year to SAR 868.442 billion in the previous year, while non-oil exports levelled up 21.7% to SAR 235.458 billion over the same year, data showed.

Saudi Arabia’s trade surplus surged 80.16% year-on-year, or SAR 262.47 billion, during the full year 2018.

By the end of 2018, the oil-rich kingdom’s trade surplus recorded SAR 589.9 billion, compared to SAR 327.43 billion in 2017, according to the General Authority for Statistics’ (GASTAT) data.

On the other hand, Saudi imports inched up 1.89% to SAR 513.99 billion in 2018, from SAR 504.447 billion the year before.