Saudi Arabia’s General Authority for Statistics (GASTAT) issued the 2024 International Trade Statistics Bulletin, showing a 13.1 per cent increase in non-oil exports (including re-exports) compared to 2023.
However, total merchandise exports declined by 4.5 per cent year-on-year, while imports rose by 12.5 per cent in 2024.
According to the bulletin, the ratio of non-oil exports (including re-exports) to imports increased to 35.3 per cent in 2024, up from 35.1 per cent in 2023.
Saudi imports and exports
Meanwhile, the share of oil exports in total exports decreased from 77.3 per cent in 2023 to 73.1 per cent in 2024.
The bulletin showed that “chemical industry products” topped the list of non-oil exports, accounting for 25.5 per cent of the total, while “machinery, electrical equipment, and parts” led imports with a 25.3 per cent share.
China remained Saudi Arabia’s top trading partner in merchandise trade, accounting for 15.2 per cent of total Saudi exports in 2024, while imports from China accounted for 23.9 per cent of the Kingdom’s total imports during the same year.
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