Saudi Arabia’s non-petroleum exports fall by 25.9% in Q2 of 2023

Saudi Arabia’s merchandise exports declined in the second quarter of 2023 by 31.8 percent to reach 291.6 riyals, compared 427.8 billion riyals during the same period last year, according to CNBC Arabia on Thursday.

The result was due to a decline of 113.9 billion riyals in petroleum exports, amounting to 227.7 billion riyals, compared to 341.6 billion riyals in the second quarter of 2022.

However, the imports rose by two percent or 3.5 billion riyals to reach 178.9 billion riyals during the second quarter of 2023, compared to 175.4 billion riyals in the second quarter 2023.