RIYADH: According to official data, Saudi Arabia’s non-oil exports increased by 7.3 percent in June to reach SR21.59 billion ($5.75 billion) over the same month the previous year.
The General Authority for Statistics reports that chemical and related products led the non-oil export category, with 27.7 percent of all outbound shipments a 3.8 percent increase from June 2023. Then came plastic products, which accounted for 25.7% of non-oil exports and increased by 2.8% year over year.
According to the report, in June, the Kingdom exported non-oil products worth SR4.46 billion to the United Arab Emirates (UAE). China and India followed with SR2.66 billion and SR1.74 billion, respectively.
Bahrain imported non-oil goods worth SR983 million, while products worth SR851.2 million and SR692.9 million were shipped to Turkiye and Singapore, respectively.
The GASTAT report also showed that, to SR87.90 billion, the Kingdom’s total merchandise exports decreased by 5.8% in June. The decrease was ascribed to a 9.3 percent reduction in oil exports subsequent to Saudi Arabia’s choice to curtail crude output as a component of the OPEC+ accord.
Also Read:
The United States Should Now Begin lowering Interest Rates: US Federal Reserve
MultiBank Group Breaks Sales Records and Shows Remarkable Profit Growth in 2023
