Saudi news

Saudi non-oil exports rose 4.4% to 24.9 billion riyals in October

Saudi non-oil exports increased by 4.4% on an annual basis in October 2022, recording 24.9 billion riyals, compared to 23.9 billion riyals recorded in the same month last year.

Data from the General Authority for Statistics showed a decrease in non-oil exports (including re-exports) by 0.1 billion riyals, or by 0.4%, compared to September 2022.

The data indicated that commodity exports in October 2022 increased by 13.9% compared to October 2021, as their value amounted to 120.7 billion riyals last October, up from 106 billion riyals in October 2021, as a result of the increase in petroleum exports by 13.7 billion riyals, by 16.6%. .

The percentage of petroleum exports out of the total exports increased from 77.5% in October 2021 to 79.4% last October, while the value of commodity exports decreased compared to September 2022 by 4.5 billion riyals, or by 3.6%.

In terms of imports, they increased last October by 39.3%, amounting to 18 billion riyals; As it amounted to 63.9 billion riyals in October 2022, compared to 45.9 billion riyals in October 2021.

The value of imports also increased, compared to the previous month, September 2022, by 2.8 billion riyals, or by 4.5%.

The general trend of commodity trade was positive during the reference period, which reflects strong demand for energy products across the world.

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