According to a report by General Authority for Statistics (GASTAT), the overall merchandise exports of Saudi Arabia increased by 82.5% in November 2021 compared to November 2020, when international trade was impacted by COVID-19 related lockdowns and travel bans in numerous countries.
The value of exports amounted to SAR 107.3 billion ($28.61 billion) in November 2021, up from SAR 58.8 billion ($15.68 billion) in November 2020.
This increase originated mainly from oil exports, which rose by SAR 43.1 billion ($11.49 billion) or 112.8% in the same period.
The share of oil exports in total exports increased from 65.0% in November 2020 to 75.8% in November 2021.
Compared to October 2021, total merchandise exports increased by SAR 1.1 billion ($0.29 billion) or 1.0%.
The report further revealed that non-oil exports increased by 26.1% year-on-year in November 2021, rising to SAR 26.0 billion($6.93 billion) from SAR 20.6 billion($5.49 billion) in November 2020.
Also, the non-oil exports increased compared to October 2021 by SAR 2.1 billion ($0.56 billion) or 9.0%.
Saudi Arabia’s merchandise imports increased by 1.4% (SAR 0.7 billion) ($0.19 billion) in November 2021, the report added.
The value of imports amounted to SAR 49.4 billion ($13.17 billion) in November 2021 compared to SAR 48.7 billion ($12.98 billion) in November 2020.
Imports increased compared to the previous month of October 2021 by SAR 2.6 billion ($0.69 billion) or 5.5%.
GASTAT released the International Trade Report for November 2021 on Tuesday.