Saudi Gazette report

RIYADH — Saudi Arabia's non-oil exports, including re-exports, jumped 12.7 percent to SR25.38 billion year-on-year during the month of October 2024 compared to the same month last year.

According to the Saudi International Trade Report for October 2024, issued by the General Authority for Statistics (GASTAT) on Wednesday, national non-oil exports, excluding re-exports, increased by 5.1 percent, bringing total exports to about SR93 billion.

The value of re-exported goods soared by 47.1 percent during the same period. Meanwhile, commodity exports decreased by 10.7 percent due to a 17.2 percent decrease in oil exports.

The ratio of non-oil exports, including re-exports to imports increased to 35.2 percent in October, compared to 30.1 percent during the same month last year. This is due to the increase in non-oil exports, which amounted to 12.7 percent, compared to the decrease in imports, which amounted to 3.8 percent, during the same period.

The ratio of oil exports to total exports decreased from 78.3 percent during October 2023 to 72.6 percent during October 2024. As for imports, they decreased in October by 3.8 percent to SR72 billion after they amounted to SR75 billion on an annual basis. Regarding the merchandise trade balance, the surplus decreased by 28.6 percent during October 2024, reaching about SR20.8 billion, the report pointed out.