Saudi Q1 Trade Surplus Jumps 43.7% With China as Top Export DestinationA · FULL TRANSLATION
# Saudi Arabia# trade surplus# crude oil# Middle East
Key Points
- Saudi Arabia's Q1 trade surplus rose 43.7% year-on-year
- China remains the largest export destination
- The Middle East-China energy bond keeps deepening
Analysis
Per JETRO, Saudi Arabia's first-quarter trade surplus jumped 43.7% year-on-year with China as its top export destination. The deepening Middle East-China energy bond is a long-term variable for Japan, which competes for the same Middle Eastern crude.