Saudi-Us Trade Balance Update
Saudi Arabia had succeeded to divert its trade deficit with the United States into a surplus last year.
The main reason for this shift is the rising international price of oil, which boosted the value of American oil imports from Saudi Arabia, according to Al-Hayat daily. The American Department of Commerce reported recently that the Saudi-US trade balance, which reflected a $427 million Saudi deficit in 1998, turned into a $335 million Saudi surplus last year.
© 2000 Al Bawaba (www.albawaba.com)