SAUDI ARABIA

Kingdom’s non-oil exports report highest increase of 40.5% in June 2021

August 29, 2021

RIYADH — The Kingdom of Saudi Arabia’s overall merchandise exports increased by 91.8% in June 2021 compared to June 2020, when international trade was impacted BY COVID-related lockdowns and travel bans in numerous countries.

The value of exports amounted to SR84.7 billion in June 2021, up from SR44.2 billion in June 2020. This increase originated mainly from oil exports, which rose by SR33.7 billion or 123.2% in the same period.

The share of oil exports in total exports increased from 62.0% (June 2020) to 72.1% (June 2021). Compared to the previous month (May 2021), total merchandise exports increased by 2.5 billion riyals or 3.1%.

Non-oil exports increased by 40.5% year-on-year in June 2021, rising to SR23.6 billion from SR16.8 billion in June 2020.

Of the most important non-oil goods, 'Plastics and Rubber and Articles Thereof' (34.4% of non-oil merchandise exports) increased by 68.0% SR 3.3 billion and 'Products of the Chemical or Allied Industries' (31.4% of non- oil merchandise exports) increased by SR49.2% 2.4 billion from June 2020.

Non-oil exports increased compared to the previous month (May 2021) by SR1.6 billion or 7.2%.

According to the International Trade June 2021 report, merchandise imports decreased by 0.2% (-0.1 billion riyals) in June 2021. The value of imports amounted to SR46.0 billion in June 2021 compared to SR46.1 billion in June 2020.

This decrease was due to the decrease in many sectors compared to June 2020, mainly 'Machinery and Mechanical Appliances; Electrical Equipment' (-19.0%) and 'Textiles and Textile Articles' (-22.3%). Imports, however, increased compared to the previous month (May 2021), by SR1.1 billion or 2.5%.

The ratio of non-oil exports to imports increased to 51.3% in June 2021 from 36.4% in June 2020, as a result of an increase in non-oil exports (40.5%) in contrast to a decline in imports (0.2%) over that period.

According to the report, China is Saudi Arabia’s main trading partner for merchandise trade. In June 2021, exports to China amounted to SR15.9 billion (18.8% of total exports), making this country the main destination for exports of Saudi Arabia.

Japan and US followed next with SR8.3 billion (9.8% of total exports) and SR6.6 billion (7.8% of total exports), respectively. India, South Korea, United Arab Emirates, Egypt, Bahrain, Taiwan, and Singapore were the other countries that ranked in the top 10 destinations. Exports of Saudi Arabia to those 10 countries amounted to SR56.6 billion, accounting for 66.8% of total exports.

Imports from China amounted to SR8.3 billion (18.1% of total imports) in June 2021, making this country the main origin for imports of Saudi Arabia. United Arab Emirates and US followed next with imports of SR4.5 billion (9.9% of total imports) and SR4.4 billion (9.6% of total imports), respectively.

India, Germany, Japan, Italy, France, United Kingdom and Egypt were the other countries that ranked in the top 10 countries for imports. Imports of Saudi Arabia from those 10 countries amounted to SR28.8 billion, accounting for 62.7% of total imports.

As many as SR11.7 billion of imports, corresponding to 25.3% of the total, entered the Kingdom from Jeddah Islamic Sea Port in June 2021.

Among the other major ports of entry for the imports were King Abdulaziz Port (19.9%), King Khalid International Airport (10.9%), King Fahd Airport (7.8%), and Bat'ha (7.0%). Those five ports together accounted for 70.8% of the total merchandise imports of the Kingdom. — SPA


August 29, 2021
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