Saudi Arabia records the 2nd highest trade surplus in the G20

Saudi Arabia recorded the second highest trade surplus among the members of the Group of Twenty (G20), last April, with 21.8 billion dollars, behind China with 51.1 billion dollars, in a context marked by rising fuel prices.

According to data issued by the statistical organizations of the member states of the group, the G20 countries all recorded a trade deficit which stood at 33.1 billion dollars during the month of April, with nine countries recording a deficit. against ten countries which posted a surplus in their trade balance.

This deficit is the result of that recorded by the United States, which is estimated at 86.7 billion dollars, taking into account the significant rise in the price of goods, which has increased the value of imports, particularly from the China.

The world has seen a dramatic spike in the prices of goods and services, due to the supply chain crisis, generated by the Coronavirus pandemic, while the situation has deteriorated following the Russian-Ukrainian crisis, which has skyrockets the prices of goods, especially food and energy, given the key role of these two countries in this sector, especially Russia.

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