General Price Level Inflation, as measured by the cost of living index according to the revised goods and services basket based on the new 2007 base year is estimated to have increased by 2.9 percent in 2012, while the non-oil GDP deflator showed an increase of 3.8 percent. 3 - Foreign Trade and Balance of Payments According to the Saudi Arabia Monetary Agency (SAMA) preliminary data, total exports of goods are estimated to be SR 1485 (US $396) billions in 2012, representing an increase of 9.0 percent over 2011. Non-oil exports of goods are estimated at SR 183 (US $48.8) billions, reflecting an increase of about 4.0 percent and representing 12 percent of total goods exported. Total imports of goods are estimated at SR 480 (US $128) billions in 2012, growing at 7.0 percent compared to 2011. According to preliminary data from SAMA, the trade balance is estimated to record a surplus of SR 1005 (US $268) billions in 2012, an increase of 10.0 percent compared to last year. The current account is estimated to record a surplus of SR 669.2 (US 178.5) billions in 2012 compared to SR 594.5 (US $158.5) billions in 2011, an increase of 13 percent. --MORE
