Saudi Arabia’s Trade Surplus Increases 30% in October 2024

Saudi Arabia’s trade surplus grew by 30% in October 2024, reaching SR 20.76 billion, up from SR 15.99 billion in September. The country’s total trade volume for the month was SR 164.79 billion, reflecting a 2% increase.

Oil exports dominated at SR 67.4 billion, reflecting 72.6% of total exports. The biggest buyers of Saudi goods were Asia, especially China, which accounted for 16.1% of exports, followed by India and Japan. GCC countries and the European Union were also significant markets, ranking second and third.