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Saudi Arabia oil exports increased by 123% in Latest June 2021

Saudi Arabia oil exports rose 123% year-on-year in June to 61.5 billion rials ($16.4 billion), while non-oil exports increased by about 41%, according to official data released on Tuesday.

Saudi General Statistics said that Saudi Arabia Oil Exports in June increased by nearly 92% compared with last year. Know, international trade in 2020 was restricted by coronavirus-related blockades and travel disruptions.

The report said that oil exports accounted for 72% of total exports in June, up from 62% last June.

Saudi Arabia, the world’s largest oil exporter, has been hit hard last year as oil prices plummeted and restrictions to curb the spread of the novel coronavirus have damaged its non-oil economy.

But the Saudi Arabia oil gross domestic product (GDP) in the second quarter has seen its first growth since the coronavirus crisis, driven by ease of travel restrictions and a rebound in oil prices.

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