Riyadh – Mubasher: Saudi Arabia has registered a surplus worth SAR 97.67 billion in its trade balance during the second quarter (Q2) of 2021.
Merchandise exports totalled SAR 238.62 billion in Q2-21, while the imports reached SAR 140.94 billion, according to a report by the Saudi General Authority for Statistics (GaStat) on Tuesday.
The Kingdom’s overall merchandise exports surged by 99.4% in Q2-21 when compared to SAR 119.7 billion in Q2-20. This was attributed to the international trade which was impacted by COVID-related lockdowns and travel bans worldwide.
Merchandise imports also rose by 12.9% or SAR 16.1 billion in the April-June 2021 period when compared to SAR 124.8 billion in Q2-20.
During the month of June, Saudi Arabia posted a trade balance surplus worth SAR 38.69 billion.
Overall merchandise exports soared by 91.8% to SAR 84.7 billion in June this year from SAR 44.2 billion in the same month in 2020. The increase was backed by oil exports which rose by SAR 33.7 billion or 123.2%.
Merchandise imports meanwhile went down by 0.2% to SAR 46 billion in June 2021 compared to SAR 46.1 billion in June 2020.
China remained Saudi Arabia’s main trading partner for merchandise trade during both Q2-21 and the month of June.
Saudi exports to China amounted to SAR 46.4 billion, representing 19.4% of total exports in Q2-21, while imports from China totalled SAR 25.7 billion or 18.2% of the total imports.
In June 2021, Saudi Arabia’s exports to China stood at SAR 15.9 billion, accounting for 18.8% of the total exports, while the imports from China to the Kingdom reached SAR 8.3 billion or 18.1% of the total imports.
