Saudi Arabia’s non-oil oil exports increased by 12.4 per cent during April 2024 compared to April 2023, according to the General Authority for Statistics (GASTAT) in its International Trade report.
GASTAT notes that the value of national non-oil domestic exports (excluding re-exports) saw a 1.6 per cent increase, while the value of re-exported goods surged by 56.4 per cent in April 2024 compared to the same period in 2023.
Saudi Arabia trade statistics
Plastics, rubber, and their products stand out as crucial non-oil export commodities, representing 26.2 per cent of total non-oil exports and marking a 20.5 per cent increase from April 2023.
This underscores the attention given to the promising Saudi economy and its various sectors.
Furthermore, the report indicates an uptick in the ratio of non-oil exports (including re-exports) to imports in April 2024, reaching 37.1 per cent compared to 32.6 per cent in April 2023.
This is attributed to the 12.4 per cent increase in non-oil exports and a 1.3 per cent decrease in imports during this period.
The value of merchandise imports declined by 17.4 per cent, while the trade balance in merchandise recorded a 36 per cent increase compared to March 2024.
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