Saudi trade surplus of SAR 14.4bn in July signals continued economic strength

Saudi Arabia maintained a trade surplus estimated at around 14.4 billion riyals (SAR) in July, despite geopolitical developments affecting global trade and shipping.

Osama Al-Kurdi, Chairman of the International Trade Committee at the Federation of Saudi Chambers, told Al Ekhbariya TV that the Kingdom's international trade data, despite declines in some indicators, reflect the strength and resilience of the Saudi economy.

Al-Kurdi noted that the impact of geopolitical developments on the Saudi economy has remained relatively limited, especially compared to the effects these changes have had on other economies worldwide.

He added that the continued trade surplus, despite challenging circumstances, is a key indicator of robust economic activity in the Kingdom, emphasizing that July's surplus demonstrates the ongoing positive performance of Saudi Arabia's trade balance.

Role of transport and trade partners

Al-Kurdi also highlighted that Jeddah Islamic Port plays a pivotal role in handling the Kingdom's exports and imports, underscoring the importance of strategic investments in the ports sector.

He explained that the development of the transport and logistics system helps mitigate the impact of global trade and shipping disruptions on the national economy.

It is noteworthy that China, the UAE, and Japan together account for about 30% of Saudi Arabia's trade, highlighting the significance of these markets for the Kingdom's foreign trade.

View the post on X

Al-Kurdi stressed that diversifying trade partners and developing transport and logistics services are essential to supporting the growth of Saudi trade in the coming period.