RIYADH — Saudi Arabia's overall merchandise exports increased by 13.9% in October 2022, compared to October 2021.

The value of exports amounted to SR120.7 billion in October 2022, up from SR106.0 billion in October 2021, according to the International Trade Report for October 2022 released Thursday by the General Authority for Statistics (GASTAT).

This increase was mainly from oil exports, which rose by SR13.7 billion or 16.6% in the same period. The share of oil exports in total exports increased from 77.5% in October 2021 to 79.4% in October 2022.

Non-oil exports (including re-exports) increased by 4.4%, in October 2022, increasing to SR24.9 billion from SR23.9 billion in October 2021.

Merchandise imports increased by 39.3% (SR18.0 billion) in October 2022. The value of imports amounted to SR63.9 billion in October 2022 compared to SR45.9 billion in October 2021. Imports also increased compared to September 2022 by SR2.8 billion or 4.5%. — SPA