Saudi Arabia reports $98.4 billion in revenue in Q2 2022

Saudi Arabia reported a revenue of more than $98.4 billion (SAR 370 billion) in the second quarter of 2022, Al Arabiya reported citing the Saudi Ministry of Finance on Thursday.

The country’s oil revenues topped $66.5 billion (SAR 250 billion) in Q2.

The Kingdom also reported an expenditure of more than $77.7 billion (SAR 292 billion) during the same time period, it said.

Non-oil revenues amounted to $31.9 billion (SAR 120 billion) in the second quarter, in addition to $2.7 billion (SAR 10.2 billion) in income taxes, profits and capital gains. Another $17 billion (SAR 64 billion) was earned through tax revenues on goods and services and $5 billion (SAR 19 billion) through other taxes.

The Saudi budget surplus exceeded $35.9 billion (SAR 135 billion) in the first half of 2022 – including $15.3 billion (SAR 57.5 billion) in Q1 2022, and $20.7 billion (SAR 77.9 billion) in Q2 of 2022.

The H1 2022 revenue saw an increase of 43 percent to $172.5 billion (SAR 648.3 billion) compared to $120.5 billion (SAR 452.8 billion) in the same period in 2021.

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