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The world's largest crude oil exporter had expected a deficit of 40 billion riyals ($10.7 billion), or 7.4 percent, with planned expenditure of 580 billion riyals ($154.7 billion).
Revenues surged to 1.110 trillion riyals ($296 billion), the finance ministry said in a statement aired by Al-Ekhbariyah television.
For 2012, the desert kingdom that sits on the world's largest proven oil reserves expected a small surplus of 12 billion riyals ($3.2 billion), with revenues expected to hit 702 billion riyals ($187.2 billion), while expenditure would surge to 690 billion riyals ($184 billion).