Saudi Arabia oil exports dropped 65.4% year-on-year in April, or as much as $12 billion, official data shows. Compared to March, the country’s total exports, incorporating oil and non-oil exports being plastics and chemicals, down by $3 billion or 23.5%.
During an oil price and demand drop in the first quarter this year, Saudi Arabia’s oil exports value plunged by $40 billion or 21.9% year-on-year from $11 billion decline at the earlier data. With this data, the International Monetary Fund opined that the world’s largest oil exporter country economy is shrinking by 6.8% this year.
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Published on June 28, 2020 5:59 AM (GMT+8)Last Updated on June 28, 2020 5:59 AM (GMT+8)
