Riyadh – Mubasher: Saudi Arabia achieved a year-on-year surge in surplus in July, data released on Monday showed.
The Kingdom’s surplus jumped 183.9% or by SAR 35.42 billion ($9.4 billion) to SAR 54.68 billion by the end of July from SAR 19.26 billion in the same period of 2017, General Authority for Statistics’ (GASTAT) report showed
Year-on-year, Saudi merchandise exports reached SAR 96.97 billion, up from SAR 64.16 billion.
On the other hand, the oil-rich nation’s merchandise imports hit SAR 42.49 billion during July, down from SAR 44.89 billion in the corresponding month a year ago.
At the level of the first seven months of 2018, Saudi surplus grew SAR 160.72 billion, or 98.04%, to SAR 324.65 billion, from SAR 163.93 billion during the corresponding period of 2017.
From January to July, the country’s merchandise trade increased by SAR 163.33 billion, or 21.5%, reaching SAR 921.91 billion, compared to SAR 758.58 billion in the year-ago period.
