Saudi Arabia records 22% higher trade surplus with Arab countries

Saudi Arabia records 22% higher trade surplus with Arab countries

Saudi Arabia's trade surplus with the Arab countries increased by 21.8% to SAR 16.88 billion ($4.5 billion) during the first quarter (Q1) of 2021, compared to SAR 13.86 billion ($3.7 billion) in the year-ago period. The Kingdom registered a trade surplus with 18 Arab countries, led by Bahrain with SAR 4.69 billion ($1.25 billion) and Egypt with SAR 3.96 billion ($1.06 billion), according to data collected by Mubasher based on the official figures of the General Authority for Statistics (GASTAT). Meanwhile, Saudi Arabia recorded a trade deficit with three Arab countries, topped by Syria with SAR 295.2 million ($78.72 million), Oman with SAR 211.3 million ($56.35 million), and Lebanon with SAR 57.8 million ($15.41 million). The trade exchange between the Kingdom and the Arab countries rose by around 23.2% to SAR 59.38 billion ($15.83 billion) in Q1-21 from SAR 48.22 billion ($12.86 billion) in the year-ago period. The UAE topped Saudi Arabia's trade partners with SAR 25.51 billion ($6.8 billion) in the first three months of 2021, up 36.3% year-on-year (YoY). The UAE accounted for 42.96% of Saudi Arabia's total trade, followed by Egypt with 16.85% and Bahrain with 13.32%. Saudi Arabia's exports to the Arab countries reached SAR 38.13