Saudi Arabia saw a 22.8 per cent increase in non-oil exports in September, according to the General Authority for Statistics (GASTAT) in its monthly International Trade Report.
At the same time national non-oil exports, excluding re-exports, rose by 11.6 per cent; and the value of re-exported goods increased by 65.4 per cent.
The report also indicated a 14.9 per cent decline in merchandise exports in September 2024 compared to September 2023, attributed to a 24.5 per cent decrease in oil exports.
Saudi exports
Furthermore, the percentage of oil exports as part of total exports decreased from 79.7 per cent in September 2023 to 70.7 per cent in September 2024.
Saudi imports rose by 15.0 per cent in September 2024; there was a 56.9 per cent decrease in the surplus of the merchandise trade balance compared to September 2023.
The GASTAT report highlighted that the ratio of non-oil exports to imports rose to 37.1 per cent in September 2024 from 34.8 per cent in September 2023, driven by a 22.8 per cent increase in non-oil exports and a 15.0 per cent increase in imports during that timeframe.
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