Saudi Gazette report

RIYADH — There has been an increase of 19.7 percent in Saudi Arabia's non-oil exports during November 2024 compared to November 2023. This was revealed in the international trade publication, published by the General Authority for Statistics (GASTAT) on Thursday.

The data highlighted an 82.9 percent rise in the value of re-exported goods during the same period, while merchandise imports grew by 13.9 percent and exports decreased by 4.7 percent. The report revealed that total exports reached SR90.5 billion while total imports stood at SR73.7 billion, and the trade balance accounted for SR16.8 billion.

The GASTAT data also showed that chemical products are among the most significant non-oil exports, accounting for 24 percent of the total, while this marks 1.6 percent decrease compared to November 2023. Plastics, rubber, and their products, which represented 21.7 percent of total non-oil exports, recorded a 4 percent increase compared to November 2023.

Machinery, electrical equipment and their parts accounted for 28.1 percent of total imports, showing a 22.4 percent increase compared to November 2023. Transportation equipment and their parts, representing 14.2 percent of total imports, also saw a 22 percent increase compared to November 2023.

According to the data, China remains the Kingdom's largest trading partner, receiving approximately 15 percent of the Kingdom's exports, followed by Japan with about 10 percent of exports, followed by the United Arab Emirates, while 27 percent of the Kingdom's imports came from China, followed by the United States and then the United Arab Emirates.