Saudi Gazette report

RIYADH — The General Authority for Statistics revealed that non-oil exports (including re-exports) rose by 8.2% in May compared to May 2023, while national non-oil exports (excluding re-exports) decreased by 2.1%.

The value of re-exported goods increased by 33.9% during the same period.

The authority also stated that the value of commodity exports in May 2024 increased by 5.8% compared to May 2023, due to a 4.9% rise in oil exports.

However, the share of oil exports in total exports decreased from 73% in May 2023 to 72.4% in May 2024.

Regarding imports, they increased by 2.6% in May 2024. The trade balance surplus rose by 12.8% compared to May 2023.

Compared to April 2024, the value of commodity exports increased by 3.3%, and the value of non-oil exports, including re-exports, rose by 26.9%. Additionally, the value of imports increased by 10.6%, while the trade balance surplus decreased by 8.8% compared to April 2024.

The General Authority for Statistics noted that the ratio of non-oil exports (including re-exports) to imports in May rose to 41.1% from 39% in May 2023, due to an 8.2% increase in non-oil exports and a 2.6% rise in imports during this period.

According to the authority, chemical industry products are among the most significant non-oil export goods, accounting for 23.8% of total non-oil exports, although this category saw a 6.2% decrease compared to May 2023. Following this are plastics and rubber products, which represent 21.8% of total non-oil exports and decreased by 3.4% compared to May 2023.