Saudi Arabia's imports jumped an annual 19.6 per cent in August, ending nine consecutive months of declines, while growth in non-oil exports accelerated to 22.2 per cent, data from the Central Department of Statistics and Information showed.
The kingdom's non-oil exports amounted to SR18.542 billion ($4.94 billion) in August 2014, compared to SR15.172 ($4.042 billion) in the same month last year. The imports totaled SR56.483 billion ($15.047 billion) in August this year, compared to SR47.208 billion ($12.576 billion) in 2013.
Non-oil exports account for around 12 per cent of overall exports of Saudi Arabia. The world's largest oil exporter does not release complete trade data on a monthly basis. Trade data are often revised by the statistics office.
Analysts polled by Reuters in September forecast Saudi Arabia's current account surplus at 15.2 per cent of gross domestic product in 2014 and 11.5 per cent in 2015.
Reuters
23 October
