Riyadh July 26 2024: Saudi Arabia Non-oil exports, including re-exports, recorded an increase of 8.2% in May 2024 compared to May 2023, while national non-oil exports, excluding re-exports, decreased by 2.1%, according to data released by General Authority for Statistics.
Moreover, the value of re-exported goods increased by 33.9% during the same period.
Meanwhile, merchandise exports increased by 5.8% in May 2024 compared to May 2023, due to a 4.9% increase in oil exports. Consequently, the percentage of oil exports out of total exports decreased from 73.0% in May 2023 to 72.4% in May 2024. On the other hand, imports increased by 2.6% in May 2024, and the surplus of the merchandise trade balance increased by 12.8% compared to May 2023.
In comparison to April 2024, the value of merchandise exports increased by 3.3%, the value of non-oil exports, including re-exports, increased by 26.9%, and the value of imports increased by 10.6%, while the surplus of the merchandise trade balance recorded a decrease of 8.8%.
Among the most important non-oil exports were “chemical products”. These products constituted 23.8% of the total non-oil exports, recording a 6.2% decrease compared to May 2023, followed by “plastics, rubber, and their products” which represented 21.8% of total non-oil exports, with a 3.4% decrease compared to May 2023
However, the most important imported goods were “machinery, electrical equipment and parts”, which constituted 26.7% of total imports, rising by 22.3% compared to May 2023. Followed by “Transportation equipment and parts”, which represented 12.9% of total imports, with a 15.9% decrease compared to May 2023
