New report released on the Kingdom’s balance of trade

February 3, 2008

Saudi Arabia achieved a trade surplus ranging from $8.8 billion [SR32.911 billion] to $141.85 [SR529.937 billion] between 1997 and 2006, according to a new report by the Ministry of Economy and Planning’s Depart of General Statistics and Information.

Exports jumped from $38.8 billion [SR145.388 billion] in 1998 to $211.67 billion [SR791.339 billion] in 2006. Seventy-one percent of total exports went to Japan, the United States, South Korea, China, India, Singapore, Taiwan, the UAE, the Netherlands and Bahrain. Commodities exported included crude oil and its byproducts, plastics and their byproducts, biochemical products, fertilizer, and inorganic chemical products.

Imports increased from $28 billion [SR104.980 billion] in 1999 to $69.92 billion [SR261.402 billion] in 2006. Sixty-two percent of the Kingdom’s total imports came from the US, China, Germany, Japan, Italy, the UK, France, South Korea, India and Australia. In 2006, imported goods included cars, medicine, receivers and transmitters, spare parts for aircraft and cars, pipes, tires, iron and rice.