KSA’s present account balance rises 18 percent driven by oil, non-oil shipments

(MENAFN) Saudi Arabia’s present account balance has seen a 17.6 percent surge in the April-June period of this year to SR170.1 billion (USD45.26 billion), driven by a surge in oil and non-oil shipments, in line with the Saudi Central Bank’s monthly bulletin.

The Kingdom’s shipments of goods jumped to SR272. 2 billion (nearly USD72.4 Billion), indicating a 23.1 percent rise from SR221.1 billion (nearly USD58.1 billion) during the same period.

Services including transport and construction all seen decreases during the stated period of this year, resulting in a 53.9 percent decline in the industry.

Saudi Arabia’s foreign assets climbed 2.4 percent from the January-March of this year, reaching SR4.9 trillion (nearly USD1.3 trillion) in the April-June period of this year.

Portfolio investments — which contain equity and investment fund stocks and debt securities — marginally decreased by 1.1 percent for the second consecutive month, comparing to 1.4 trillion by the end of June.


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