The balance of trade between Saudi Arabia and the USA has notably tilted during the year 2000 in favor of Saudi Arabia. According to Al-Hayat newspaper, this basically resulted from the rising oil prices, which hit peak records this year compared with last year.
In addition, the noticeably declining Saudi imports improved this trade balance in favor of Saudi Arabia. The Saudi trade balance surplus with the USA jumped by 54 folds during the first nine months of 2000.
Official sources revealed that the value of the Saudi exports to the USA had climbed up to $10.6 billion during the first nine months of 2000, up from $5.6 billion in the corresponding period of the previous year. These figures translate to a nearly 90 percent jump.
In addition, the value of the Saudi imports from the USA declined to $4.3 billion during the first nine months of 2000, down from $5.5 billion in the corresponding period of the previous year. These figures translate into a 21 percent decrease. — (Albawaba-MEBG)
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