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Report: Saudi foreign trade to exceed two trillion rials in 2022

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The Al-Eqtisadiah newspaper reported that foreign trade in Saudi goods grew by 40% in 2022 and reached 2.25 trillion rials, compared to 1.61 trillion rials in 2021.

Al-Ektisadiya said this growth was supported by a 61% increase in oil exports, which reached the highest level since 2012, amounting to 1.22 trillion rials in 2022, compared to 758.1 billion rials in 2021 as a result of rising prices. for oil. prices and production in Saudi Arabia.

The report section of the Al-Eqtisadiah newspaper says that merchandise exports rose by 49% in 2022, hitting a historic high of 1.54 trillion rials, compared to 1.04 trillion rials, which jumped due to a positive trade balance of 80% and reached 832.8. billion rials compared to 462.5 billion rials in 2021.

She indicated that imports of goods increased by 23% in 2022 and reached 706.3 billion rials, compared to 573.2 billion rials in 2021.

Source: The Economist.

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