SAUDI ARABIA

Saudi Arabia's non-oil exports jump by 13.1% in Q3

November 24, 2022

RIYADH — Saudi Arabia’s non-oil exports, including re-exports, increased by 13.1%, rising to SR78.4 billion from SR69.4 billion during the same period last year, the latest figures released by the General Authority for Statistics (GASTAT) on Thursday showed.

Non-oil exports decreased compared to Q2 this year by SR8.4 billion or 9.6%.

Saudi Arabia’s overall merchandise exports increased by 30.9% in September 2022, compared to September 2021.

The value of exports amounted to SR124.7 billion in September 2022, up from SR95.2 billion in September 2021. This increase came mainly from oil exports, which rose by SR30.3 billion or 43.4% in the same period.

Non-oil exports (excluding re-exports) increased by 9.7%, compared to September 2021, jumping to SR21.6 billion from SR19.7 billion in September 2021. Non-oil exports (including re-exports) decreased compared to August 2022 by SR2.4 billion or 8.8%, while declining by 0.8 billion (-3.7%) if re-exports are excluded.

Merchandise imports increased by 26.9% (SR 12.7 billion) in September 2022. The value of imports amounted to SR60.0 billion in September 2022 compared to SR47.3 billion in September 2021. Imports also decreased compared to August 2022 by SR3.5 billion or 5.4%.

According to the International Trade report for the Third Quarter (Q3) 2022, the overall merchandise exports increased by 46.1% in Q3 2022 compared to Q3 2021. The value of exports amounted to SR399.7 billion in Q3 2022, up from SR273.6 billion in Q3 2021. This increase originated mainly from oil exports, which rose by SR117.1 billion or 57.3% in the same period. The share of oil exports in total exports increased from 74.6% in Q3 2021 to 80.4% in Q3 2022. Compared to Q2 2022, total merchandise exports decreased by SR30.8 billion or 7.1%.

Merchandise imports increased by 25.1% (SR36.4 billion) in Q3 2022. The value of imports amounted to SR181.1 billion in Q3 2022 compared to SR144.8 billion in Q3 2021. Imports also increased compared to Q2 2022 by SR8.3 billion or 4.8%.— SG


November 24, 2022
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