Riyadh, Saudi Arabia– Saudi Arabia’s non-oil exports (including re-exports) fell by 24.4 percent to SAR 22.7 billion ($6.05 billion) in December 2022, from SAR 30.1 billion in December 2021, according to the kingdom’s General Authority for Statistics.
Non-oil exports (excluding re-exports) decreased by 17 percent as re-exports also fell by 49 percent in the same period. Non-oil exports (including re-exports) decreased compared to November 2022 by SAR 0.04 billion or 0.2 percent.
The overall merchandise exports increased by 1.1 percent in December 2022, SAR 108.2 billion, compared to SAR 107.0 billion in December 2021, according to General Authority for Statistics.
This increase originated mainly from oil exports, which rose by SAR 8.5 billion or 11.1 percent in the same period, increasing to SAR 85.5 billion from SAR 77.0 billion in December 2021.
Merchandise imports increased by 16.9 percent (SAR 9 billion) in December 2022. The value of imports amounted to SAR 62.2 billion in December 2022 compared to SAR 53.2 billion in December 2021. Imports also decreased compared to November 2022 by SAR 2.4 billion or 3.7 percent.
The share of oil exports in total exports increased from 71.9 percent in December 2021 to 79 percent in December 2022. Compared to November 2022, total merchandise exports decreased by SAR 4.6 billion or 4 percent.
China main merchandise partner
In December 2022, exports to China amounted to SAR 16.2 billion (15 percent of total exports), making this country the main destination for exports of Saudi Arabia. Japan and India followed next with SAR
12.6 billion (11.6 percent of total exports) and SAR 11.3 billion (10.5 percent of total exports), respectively. South Korea, U.S.A, Egypt, United Arab Emirates, Poland, Singapore, and Malaysia were the other countries that ranked in the top 10 destinations. Exports of Saudi Arabia to those 10 countries amounted to SAR 72.1 billion, accounting for 66.6 percent of total exports.