TGM StatBox | Logo

Trade Balance of Goods in Saudi Arabia: Overview from 2017 to 2023

Trade Balance of Goods in Saudi Arabia: Overview from 2017 to 2023

Share the statistic on social media channels or embed the statistic in your website using "Embed Code", where available.

Share chart

Embed chart
Select Citation

Cite this statistic and select one of the following formats: APA, Chicago, Harvard, MLA & Bluebook

  • APA
  • Chicago
  • Harvard
  • MLA
  • Bluebook
  • IEEE
TGM StatBox. (2024). Trade Balance of Goods in Saudi Arabia: Overview from 2017 to 2023. TGM StatBox.
Chart Details
Data Source: Calculate based World Trade Organization (WTO)'s data (export - import)
Timeframe: 2017-2023
Country: Saudi Arabia
Published date: 2024
Note: The trade balance reflects the difference between the value of a country’s exports and imports of goods. This figure was calculated by TGM StatBox, using data from the World Trade Organization (WTO). A positive balance signals a surplus, while a negative one indicates a deficit.
Key Takeaways
Saudi Arabia consistently posted substantial trade surpluses from 2017 to 2023, driven by its dominant oil exports. The surplus peaked at 221,307.2 million USD in 2022, reflecting high global oil prices and increased production. However, the surplus declined to 111,227.7 million USD in 2023, as oil prices stabilized and production adjusted to global market conditions.

The fluctuations in Saudi Arabia’s trade balance underline its heavy dependence on hydrocarbons, with non-oil exports making limited contributions. Efforts to diversify the economy under Vision 2030 remain critical to reducing the country’s vulnerability to energy market volatility.

Further Recommended Statistics

Statbox vector
Saudi Arabia's Overall Balance (% of GDP): Net Lending/Borrowing Trends and Forecasts (1990-2029)|Chart|TGM StatBox
Saudi Arabia's Overall Balance (% of GDP): Net Lending/Borrowing Trends and Forecasts (1990-2029)
charts MENA Saudi Arabia
Fertility Rate Trends in Saudi Arabia from 1990 to 2022|Chart|TGM StatBox
Fertility Rate Trends in Saudi Arabia from 1990 to 2022
charts MENA Saudi Arabia
Device Usage Breakdown in Saudi Arabia (%)|Chart|TGM StatBox
Device Usage Breakdown in Saudi Arabia (%)
charts MENA Saudi Arabia
Agriculture Sector Contribution to GDP in Saudi Arabia (1990-2022)|Chart|TGM StatBox
Agriculture Sector Contribution to GDP in Saudi Arabia (1990-2022)
charts MENA Saudi Arabia
Urbanization Growth in Saudi Arabia from 1990 to 2023|Chart|TGM StatBox
Urbanization Growth in Saudi Arabia from 1990 to 2023
charts MENA Saudi Arabia
Trends in Working Age Population Percentage in Saudi Arabia from 1990 to 2022|Chart|TGM StatBox
Trends in Working Age Population Percentage in Saudi Arabia from 1990 to 2022
charts MENA Saudi Arabia
Military Expenditure in Saudi Arabia, 1960-2022|Chart|TGM StatBox
Military Expenditure in Saudi Arabia, 1960-2022
charts MENA Saudi Arabia
Population Density in Saudi Arabia from 1990 to 2021|Chart|TGM StatBox
Population Density in Saudi Arabia from 1990 to 2021
charts MENA Saudi Arabia
Unemployment Rate Evolution in Saudi Arabia from 1990 to 2021|Chart|TGM StatBox
Unemployment Rate Evolution in Saudi Arabia from 1990 to 2021
charts MENA Saudi Arabia
Population Growth Trends in Saudi Arabia from 1990 to 2023|Chart|TGM StatBox
Population Growth Trends in Saudi Arabia from 1990 to 2023
charts MENA Saudi Arabia
The Changing Death Rate in Saudi Arabia from 1990 to 2022|Chart|TGM StatBox
The Changing Death Rate in Saudi Arabia from 1990 to 2022
charts MENA Saudi Arabia
Saudi Arabia's Total Population from 1990 to 2023|Chart|TGM StatBox
Saudi Arabia's Total Population from 1990 to 2023
charts MENA Saudi Arabia
The Evolution of Mortality Rate in Saudi Arabia from 1990 to 2022|Chart|TGM StatBox
The Evolution of Mortality Rate in Saudi Arabia from 1990 to 2022
charts MENA Saudi Arabia
Changing Median Age of Population in Saudi Arabia (2000-2030)|Chart|TGM StatBox
Changing Median Age of Population in Saudi Arabia (2000-2030)
charts MENA Saudi Arabia
Life Expectancy at Birth in Saudi Arabia from 1990 to 2022|Chart|TGM StatBox
Life Expectancy at Birth in Saudi Arabia from 1990 to 2022
charts MENA Saudi Arabia
Statbox |form contact icon

Have Other Queries?

Statbox vector

Connect with our expert team for immediate assistance or comprehensive market analysis. We are always ready to support your business needs.

Contact Us Request Market Research Service