RIYADH: The value of Saudi oil exports increased by 11.8% to 9.5 billion riyals ($2.53 billion) in November 2022, compared to the same month in 2021, according to the latest data from the General Authority for Statistics.
In its report, the General Authority for Statistics indicated that the Kingdom’s total merchandise exports increased by 3.6% year-on-year in November 2022.
The total value of total merchandise exports in November 2022 amounted to 12.8 billion Saudi riyals, compared to 108.8 billion riyals in the same month of the previous year.
“The share of oil exports in total exports increased from 74.0% in November 2021 to 79.8% in November 2022,” the authority said in the report.
According to the report, Saudi non-oil exports, including re-exports, declined by 19.7 percent to 22.7 billion riyals in November 2022, compared to the same month in 2021.
The General Authority for Statistics report indicated that the Kingdom’s non-oil exports, excluding re-exports, also decreased by 18 percent year-on-year in November 2022.
The report added that the Kingdom’s total merchandise imports increased by 26.5% to 62.7 billion riyals in November 2022.
The General Authority for Statistics report revealed that the most imported goods in November were machinery, mechanical devices and electrical equipment spare parts, which accounted for 20.4% of total goods imports.
The report added that in November 2022, exports to China amounted to 20.6 billion Saudi riyals, or 18.3 percent of total exports, making the Asian giant the main destination for exports from Saudi Arabia.
It was followed by Japan and India, with a value of 11.7 billion riyals and 10.3 billion riyals of total exports, respectively.
South Korea, the United States, the UAE, Egypt, the Netherlands, Poland and Bahrain were the other countries on the list of top 10 exports from Saudi Arabia.
As for Saudi imports, China took the lead, as its imports accounted for 23 percent of the total during that period, amounting to 14.4 billion riyals.
The United States came in second place with imports worth 6.2 billion riyals, or 9.8 percent of Saudi imports, in November 2022. The UAE came in third place with an import value of 3.3 billion riyals, representing 5.3 percent of the total, according to the report.
Jeddah Islamic Maritime Port topped the list of ports through which goods arrived in the Kingdom at a value of 16.8 billion riyals, representing 26.8 percent of total imports.