Trade Surplus Surpasses USD 26.31 Billion in Second Quarter of 2024

According to preliminary international trade data released by the General Authority for Statistics (GASTAT), Saudi Arabia’s trade balance reached a surplus of SAR 98.368 billion in the second quarter of 2024.

Reaching its highest level this year so far, it marks a significant quarterly growth of 13.2%, with an increase of SAR 11.495 billion from the surplus of SAR 86.873 billion announced for the first quarter of the year.

According to the GASTAT report, total international trade totaled SAR 490.657 billion, with merchandise comprising 60% of the overall trade. Petroleum exports accounted for 75% of total exports, reaching SAR 220.784 billion, while re-exports accounted for SAR 22.327 billion.

Topping the list of importers from Saudi Arabia were Asian countries, excluding Arab and Islamic countries, accounting for 50.1% of the Kingdom’s total goods exports, with China topping the list, followed by the European Union (15.6%) and the GCC (13.3%).

King Fahd Industrial Port in Jubail saw the highest value among all available means of transport and different ports in the second quarter, with a value of SR 11.202 billion, or 15.2% of the total.