Overview In February 2023 Saudi Arabia exported SAR101B and imported SAR54.6B, resulting in a positive trade balance of SAR46B. Between February 2022 and February 2023 the exports of Saudi Arabia have decreased by SAR-7.4B (-6.85%) from SAR108B to SAR101B, while imports increased by SAR7.94B (17%) from SAR46.6B to SAR54.6B.
Trade In February 2023, the top exports of Saudi Arabia were Mineral Products (SAR80.6B), Chemical Products (SAR6.93B), Plastics and Rubbers (SAR4.87B), Machines (SAR1.82B), and Metals (SAR1.8B). In February 2023 the top imports of Saudi Arabia were Machines (SAR11.7B), Transportation (SAR9.25B), Chemical Products (SAR5.71B), Metals (SAR5.53B), and Mineral Products (SAR3.19B).
Destinations In February 2023, Saudi Arabia exported mostly to jpn (SAR10.2B), ind (SAR9.86B), kor (SAR8.22B), usa (SAR5.09B), and are (SAR4.77B), and imported mostly from United States (SAR5.06B), United Arab Emirates (SAR3.81B), India (SAR3.33B), Germany (SAR2.58B), and Japan (SAR2.28B).
Growth In February 2023, the decrease in Saudi Arabia's year-by-year exports was explained primarily by an decrease in exports to India (SAR-3.26B or -24.8%), South Korea (SAR-3.07B or -27.2%), and Egypt (SAR-2.39B or -47.9%), and product exports decrease in Mineral Products (SAR-3.7B or -4.39%), Plastics and Rubbers (SAR-2.72B or -35.8%), and Chemical Products (SAR-1.8B or -20.6%). In February 2023, the increase in Saudi Arabia's year-by-year imports was explained primarily by an increase in imports from India (SAR1.03B or 44.7%), Japan (SAR731M or 47.2%), and United Arab Emirates (SAR698M or 22.4%), and product imports increase in Transportation (SAR2.89B or 45.5%), Machines (SAR2.07B or 21.4%), and Precious Metals (SAR869M or 65.5%).