Saudi Arabia’s non-oil exports grew by 18.1 per cent in December 2024 compared to December 2023, while re-exported goods rose by 23.4 per cent, according to General Authority for Statistics (GASTAT) figures.
Total exports were valued at SR277.9bn ($74.1bn) and total imports came to AR233bn ($62.1bn), leaving a trade volume of SR510.9bn ($136.2bn) and a balance of SR44.9bn ($12bn).
Meanwhile, merchandise exports declined by 2.8 per cent, and imports saw an increase of 27.1 per cent during the same period.
Saudi export data
The results of the International Trade Statistics Bulletin for December 2024, revealed that chemical industry products were a major non-oil export, representing 25.9 per cent of total non-oil exports for the month.
Meanwhile, the bulletin’s results for the fourth quarter (Q4) of 2024 also indicated a 17.3 per cent increase in non-oil exports (including re-exports) compared to the fourth quarter of 2023.
National non-oil exports (excluding re-exports) rose by 8.2 per cent, while the value of re-exported goods surged by 47.3 per cent during the same period.
Merchandise exports in Q4 2024 declined by 6.1 per cent compared to Q4 2023, which GASTAT attributed to a 13.3 per cent drop in oil exports.
Also, the share of oil exports in total exports decreased from 76.4 per cent in Q4 2023 to 70.5 per cent in Q4 2024.
The bulletin showed that imports increased by 15.5 per cent in Q4 2024, while the trade balance surplus in Saudi Arabia declined by 52.4 per cent in Q4 2024 compared to Q4 2023.
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