Value of Saudi exports recedes in May
Saudi Arabia, the world's largest oil exporter, has faced a deep recession this year amid the coronavirus crisis and lower oil revenues
Official data showed on Thursday (23), that the value of saudi oil exports fell 65% in May compared to the previous year, which represents a drop of about 12 billion dollars.
According to the General Statistics Authority, compared to April, the total exports of the world's largest oil exporter fell by about 1.6%, or $160 million. Amid the pandemic and lower commodity revenues, the country has faced a deep recession this year.
