Saudi Arabia: shortage in 1998 trade balance is 12 billion dollars

The trade balance sheet in Saudi Arabia recorded a deficit last year due to the loss of income from petroleum and petrochemical exports, after having achieved a surplus for two years.

Economic circles warned of a continuing shortage in the balance sheet that could lead the Saudi government to borrow from abroad, saying that this was a step Saudi Arabia avoided three years ago when it paid its debts.

Saudi Arabia recorded a trade shortage of $12 billion in 98 after a surplus amounting to $250 million in 1997 and $200 million in 96 due to increases in petroleum prices.