Riyadh November 23 2023: Saudi Arabia oil exports fell 17.1% to SAR 83.1 billion in September 2023, according to data released by General Authority of Statistics.
Overall merchandise exports decreased by 17.1% in September 2023, compared to September 2022. The value of exports amounted to SAR 103.8 billion in September 2023, down from SAR 125.3 billion in September 2022.
This decrease originated mainly from oil exports, which fell by SAR 17.2 billion or 17.1% in the same period, decreasing to SAR 83.1 billion from SAR 100.3 billion in September 2022. The share of oil exports in total exports increased from 80.0% in September 2022 to 80.1% in September 2023.
Compared to August 2023, total merchandise exports decreased by SAR 0.2 billion or 0.1%. Non-oil exports (including re-exports) decreased by 17.2%, compared to September 2022, decreasing to SAR 20.7 billion from SAR 25.0 billion in September 2022. Non-oil exports (excluding re-exports) decreased by 25.8% as re-exports also rose by 48.1% in the same period.
Non-oil exports (including re-exports) decreased compared to August 2023 by SAR 5.4 billion or 20.7%. Merchandise imports decreased by 2.2% (SAR 1.4 billion) in September 2023. The value of imports amounted to SAR 60.1 billion in September 2023 compared to SAR 61.5 billion in September 2022. Imports also decreased compared to August 2023 by SAR 9.6 billion or 13.7%.
