Saudi Arabia is on track to run a huge trading surplus of more than $75bn for the fourth consecutive year in 2024. Driven by its vast oil exports, the kingdom routinely stacks up huge trade surpluses with all of its primary trading partners, yet it is on track for an annual trade deficit with its largest partner of all; China (see chart 1).
Saudi Arabia On Course For Trade Deficit With China
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Charts
1: Saudi Arabia Has Run Back-To-Back Quarterly Trade Deficits With China ($bn)
2: Saudi Arabia Goods Imports - Top Suppliers: China Has Opened A Clear Lead Since 2017 ($bn)...
3: ...With The Value Of Goods Imports From China Exceeding The Next Four Countries Combined (Saudi Quarterly Imports, Top 5 Suppliers, $Bn)
4: Saudi Arabia’s Top Five Export Markets Are Significantly More Diversified ($bn)
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