Saudi Arabia achieves a 118.1 billion riyals surplus in the trade balance in the first 9 months of 2020

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Riyadh – Mr. Jamal: The foreign trade movement for the exchange of goods in the Kingdom of Saudi Arabia has improved in the past months. In conjunction with the easing of the embargo measures after the outbreak of the new Corona virus epidemic since March 2020, which reached its peak in the second quarter of this year, to reflect positively on the performance of the Kingdom’s trade balance..

A statistic prepared by Mubasher showed that the Kingdom of Saudi Arabia achieved a trade balance surplus of 118.15 billion riyals during the first 9 months of 2020, compared to 311.9 billion riyals in the same period last year..

The trade surplus of Saudi Arabia recorded a decrease by 62.1% during the year 2020 (January to September), and the equivalent of 193.75 billion riyals on an annual basis..

Mubasher accounts indicate that the trade balance of Saudi Arabia, after recording a deficit of 28 million riyals in the second quarter of 2020; As a result of the difference of a surplus value of 1.972 billion riyals in May compared to a total deficit of 2 billion riyals in the months of April and June, but the balance shifted to the surplus in the third quarter.

The Kingdom’s trade surplus reached 44.64 billion riyals in the third quarter of 2020, compared to a surplus of 89.68 billion riyals in the same quarter of 2019, dropping by 50.2%.

The exchange is down 28% … and the total is 835 billion riyals

The trade exchange of the Kingdom of Saudi Arabia recorded a decrease of 28.3% in the first 9 months of 2020, and a decrease of 328.97 billion riyals compared to the same period last year..

The Kingdom’s total commodity trade amounted to 835.02 billion riyals in the first 9 months of this year, compared to 1.164 trillion riyals in the same period in 2019..

Mubasher accounts showed that trade exchange in Saudi Arabia decreased by 26.7% in the third quarter of 2020; To reach 279.03 billion riyals, compared to 380.58 billion riyals in the same quarter of last year.

It is noteworthy that the Kingdom’s trade exchange amounted to 234.25 billion riyals in the second quarter of 2020, recording an annual decline of 42.05% compared to trade amounting to 404.23 billion riyals in the same quarter of last year, while it witnessed a decrease of 15.15% in the first quarter to reach 321.74 billion riyals, compared with 379.18 billion riyals in Same quarter of 2019.

476.6 billion riyals of the Kingdom’s exports in 9 months

As for the export movement, it witnessed a decrease of 35.4% in the first 9 months of 2020, and a decrease of 261.36 billion riyals compared to the same period last year..

The total value of the Kingdom’s merchandise exports reached 476.58 billion riyals in the current year, compared to 737.94 billion riyals in the first 9 months of 2019..

Exports decreased 31.2% in the third quarter of 2020, to 161.83 billion riyals, compared to 235.13 billion riyals in the same quarter of last year..

The value of exports for the second quarter of 2020 amounted to about 117.1 billion riyals, compared to 253.46 billion riyals in the same quarter of last year, down 53.8%, and it was 197.64 billion riyals in the first quarter of this year compared to 249.36 billion riyals in the same quarter of 2019, a decrease of 20.7%.

The import bill drops by 15.9%

The Kingdom’s imports decreased in the first 9 months of 2020 by 15.87%, equivalent to 67.61 billion riyals, compared to the same period last year..

Saudi Arabia’s merchandise imports bill amounted to 358.43 billion riyals during that period, compared to 426.04 billion riyals in the first 9 months of 2019..

At the level of the third quarter, imports fell 19.4% to 117.19 billion riyals, compared to 145.45 billion riyals in the same quarter of last year..

The value of the Kingdom’s imports in the first quarter of 2020 amounted to 124.1 billion riyals, compared to 117.14 billion riyals in the second quarter of the year..

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