Saudi Arabia achieves $8.11 billion trade surplus in October

Posted on January 2, 2024   |  

In October 2023, Saudi Arabia had a surplus in trade, with SAR30.401 billion ($8.11 billion) more in exports than imports.

This surplus contributed to Saudi Arabia's overall international trade value, which reached SAR178.210 billion ($47.52 billion).

During October, exports of goods were SAR104.306 billion, and imports were SAR73.904 billion.

Most of Saudi Arabia's exports went to Asian countries outside the Arab and Islamic nations, making up 58.8% of the total and valued at SAR61.367 billion.

The Gulf Cooperation Council (GCC) countries were the second-largest recipients, getting 9.9% of Saudi exports, totaling SAR10.334 billion. 

The European Union followed with 9.2% and SAR9.631 billion.

China, Japan, India, South Korea, and the UAE were the top countries buying Saudi exports, with China leading at 18.7% and SAR19.545 billion.