The surplus in the trade balance of the Kingdom of Saudi Arabia rose to 88 billion riyals last June, compared to 37 billion riyals in the corresponding month of 2021, with a significant increase of 137.8%.
The data of the Saudi General Authority for Statistics revealed, today, Wednesday, that the Kingdom’s merchandise exports increased by 75.2% in June 2022, to reach about 147.7 billion riyals, compared to about 84.3 billion riyals in June 2021.
In a report, the authority attributed the increase to an increase in petroleum exports by 57 billion riyals, or 94.1%, to 117.69 billion riyals during June 2022.
The percentage of petroleum exports out of total exports increased from 71.9% in June 2021 to 79.7% in June 2022. The value of merchandise exports increased by SR3.4 billion, up by 2.3%, compared to May 2022.
Non-oil exports, including re-exports, increased by 26.8% to 30.1 billion riyals in June 2022, compared to 23.7 billion riyals in 2021, while the value of non-oil exports increased by 1.9 billion riyals, up 6.8%, compared to May 2022.
Imports increased by 28.9% in June 2022 to reach 59.9 billion riyals, compared to 46.5 billion riyals in June 2021, and the value of imports increased by 5.3 billion riyals, by 9.7%, compared to May 2022.
