S. Arabia’s non-oil exports rise by 12.4% in April – GASTAT

Saudi Arabia’s non-oil exports, including re-exports, rose by 12.4 per cent in April 2024 compared to April 2023, with national non-oil exports (excluding re-exports) increasing by 1.6 per cent.

The value of re-exported goods saw a significant jump of 56.4 per cent over the same period. However, merchandise exports declined by 1.0 per cent in April 2024 compared to April 2023, largely due to a 4.2 per cent drop in oil exports. As a result, the share of oil exports decreased from 80.6 per cent in April 2023 to 78.0 per cent in April 2024.

Meanwhile, imports decreased by 1.3 per cent in April 2024, and the surplus of the merchandise trade balance fell by 0.5 per cent compared to April 2023.

When comparing April 2024 to March 2024, the value of merchandise exports declined by 1.7 per cent, non-oil exports including re-exports fell by 6.3 per cent, and imports dropped by 17.4 per cent, while the surplus in the merchandise trade balance increased by 36.0 per cent.

Attribution: General Authority for Statistics (GASTAT) data on Monday.