Riyadh - Mubasher: The Kingdom's trade balance recorded a 30% monthly growth, with an increase exceeding SAR 4 billion in October 2024, achieving a surplus of SAR 20.769 billion, compared to SAR 15.999 billion in September of the same year, according to preliminary data from the Kingdom's recently issued International Trade Bulletin.

The volume of the Kingdom’s international trade thus reached 164,794 billion riyals, which recorded a growth of 2%, with an increase of 2,594 billion riyals, compared to 162,200 billion riyals in September of the same year .

Commodity exports amounted to 92.782 billion riyals of the total trade volume, while commodity imports amounted to 72.012 billion riyals. Non-oil national commodity exports amounted to about 19.413 billion riyals in October 2024, representing 21% of total exports .

Oil exports also amounted to about 67,399 billion riyals, representing 72.6% of total exports, while the value of re-exports amounted to about 5,968 billion riyals, representing 6.4% of total exports .

In a related context, the group of Asian countries, excluding Arab and Islamic countries, topped the groups of exporting countries in October 2024, accounting for 52.2% of the Kingdom’s total commodity exports, with a value of 48.409 billion riyals .

The Gulf Cooperation Council countries came in second place as the largest exporting country group, with 13.1% of total commodity exports, worth 12,157 billion riyals. The European Union countries came in third place, with 13% of total commodity exports, worth 12,071 billion riyals .

In terms of the list of exports by country, China came in first place as the largest exporting country, accounting for 16.1% of total commodity exports, with a value of 14,951 billion riyals in October 2024, while India came in second place with a value of 8,793 billion riyals, representing 9.5% of total commodity exports, and Japan came in third place with a value of 8,703 billion riyals, representing 9.4% of total commodity exports .

Non-oil exports, including re-exports, passed through 33 diverse customs ports (sea, land, and air), and their initial value reached 25.382 billion riyals. King Fahd Industrial Port in Jubail achieved the highest value among all available means of transportation and various ports, with a value of 3.775 billion riyals, or 15% of the total .