Saudi trade surplus hits $8.2bn in February

The February figure represents the highest monthly surplus recorded in nine months, when the Kingdom recorded a surplus of SR30.1bn ($8bn) in May 2024.

According to preliminary figures published in the Kingdom’s International Trade Bulletin, the total value of international trade in February reached approximately SR156.9bn ($41.1bn), reflecting a 4 per cent year-on-year increase.

Saudi trade surplus

The growth is equivalent to more than SR1bn ($267m) in comparison to February 2024, when the total trade surplus stood at SR29.4bn ($7.88bn).

Saudi Arabia’s commodity exports amounted to SR93.7bn ($25bn), while imports reached SR63.2bn ($16.8bn).

Petroleum exports dominated the export figures, accounting for SR67.6bn ($18bn) or 72.1 per cent of total exports.

Non-oil national exports reached SR16.1bn ($4.3bn), making up 17.1 per cent of total exports, while re-exports totalled SR10bn ($2.67bn), representing 10.7 per cent.

On the level of trading partners, the Asian group led the Kingdom’s export destinations, absorbing 73.7 per cent of total exports with a value exceeding SR69bn.

The European group was next at 12.5 per cent (more than SR11bn/$2.9bn), and the African group at 8.4 per cent (over SR7bn/$1.9bn).

Among individual countries, China ranked as the top importer of Saudi goods, receiving 16.2 per cent of the Kingdom’s exports valued at SR15.2bn ($4.1bn).

Republic of Korea followed with 10.1 per cent (SR9.5bn/$2.5bn), and the UAE was third with 9.8 per cent (SR9.2bn/$2.5bn).

Saudi non-oil exports, including re-exports, were channelled through 31 land, sea, and air customs ports, with their preliminary value totalling SR26.1bn ($7bn).

King Khalid International Airport in Riyadh led all ports with SR3.2bn ($853m) in trade, or 12.4 per cent of the total, followed closely by Jeddah Islamic Port with SR3.1bn ($826.5m), or 12 per cent.