Saudi Arabia’s non-oil exports, including re-exports, increased 12.4 percent in April 2024 compared to the same month in 2023, totaling SR101.7 billion. Compared to the same month in 2023, Saudi Arabia’s non-oil exports, including re-exports, saw a 12.4 percent increase, totaling SR101.7 billion in April 2024.
The value of re-exported goods increased to 56.4 percent in April compared to the same month in 2023, while non-oil exports, excluding re-exports, also increased at a lower rate of 1.6 percent, according to the most recent figures released by the General Authority for Statistics (GASTAT) on Monday.
The analysis noted that a 12.4 percent increase in non-oil exports brought the ratio of non-oil exports, including re-exports, to imports, to 37.1 percent in April 2024 as opposed to 32.6 percent in April 2023.
In its report on international trade, the GASTAT stated that while petroleum exports fell by 4.2 percent in April 2024, the percentage of petroleum exports in total exports dropped from 80.6 percent in April 2023 to 78 percent in the same month of 2023. As a result, merchandise exports fell by one percent in April.
The Authority Report for April 2024 revealed a 1.3 percent decrease in imports, totaling SR60.3 billion, and a 0.5 percent decrease in the trade balance surplus, totaling SR41.1 billion, when compared to April 2023.
Also Read:
DIFC Innovation Hub Collaborates with Du to Support SME Innovation
Utilizing Modern Farming Technologies Accelerates in the UAE
