Saudi Trade Balance Records a Monthly Surplus of $7.7 Bn
The Saudi trade balance achieved a surplus of $7.7 billion in May, for the 36th consecutive month, as merchandise exports declined to $25.8 billion, compared to imports worth $18.1 billion. The General Authority for Statistics (GASTAT) revealed that non-oil exports, including re-exports, increased 23.9 percent compared to April 2023. The International Trade in Services survey for May 2023 showed a drop in merchandise exports by 32.1 percent from the same month in 2022, amounting $25.8 billion, down from $38.1 billion.