Saudi Arabia’s non-oil exports in the first quarter of 2022 reached 77.8 billion riyals ($21 billion), growing nearly 29 percent year on year.
According to Saudi General Authority for Statistics, the non-oil exports, however, decreased compared to the previous quarter (Q4 2021) by SAR 4.4 billion or 5.4 percent.
Overall merchandise exports increased by 72.7 percent in Q1 2022 compared to Q1 2021, reaching 359.3 billion riyals, up from SAR 208.0 billion in Q1 2021.
This increase originated mainly from oil exports, which rose by SAR 133.6 billion or 90.3 percent in the same period, the General Authority for Statistics said.
The share of oil exports in total exports increased from 71.1 percent in Q1 2021 to 78.3% in the first quarter of 2022.
Compared to the previous quarter (Q4 2021), total merchandise exports increased by SAR 37.4 billion or 11.6 percent.
Imports to the kingdom increased 12.5 percent to 156.8 billion riyals giving a trade surplus of 202 billion riyals.
The most important non-oil export goods were ‘Products of the Chemical or Allied Industries’ (34.2 percent of non-oil exports), which increased by 62.9 percent to 10.3 billion riyals and and ‘Plastics and Rubber and Articles Thereof’ (30.2 percent), which grew by 17.4 percent to hit 3.5 billion riyals.
‘Machinery and Mechanical Appliances and Electrical Equipment’ accounted for 20.5 percent of total imports, and ‘Vehicles and Associated Transport Equipment’ were 14.5 percent of total imports.