Arab News, Thursday, Jan 26, 2023 | Rajab 4, 1444
Saudi Arabia’s oil exports value rises 11.8% in November 2022: GASTAT
Saudi Arabia: Saudi Arabia’s oil
export value rose by 11.8 percent to SR9.5 billion ($2.53 billion) in November
2022, compared to the same month in 2021, according to the latest data released
by the General Authority for Statistics.
In its report, GASTAT noted that the Kingdom’s
overall merchandise exports increased 3.6 percent year-on-year in November
The total value of overall merchandise exports in
November 2022 amounted to SR12.8 billion, up from SR108.8 billion in the same
month of the previous year.
“The share of oil exports in total exports
increased from 74.0 percent in November 2021 to 79.8 percent in November 2022,”
said GASTAT in the report.
According to the report, Saudi Arabia’s non-oil
exports including re-exports decreased by 19.7 percent to SR22.7 billion in
November 2022, compared to the same month in 2021.
The GASTAT report further pointed out 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 Saudi Arabia’s overall
merchandise imports increased by 26.5 percent to SR62.7 billion in November
The GASTAT report revealed that the most imported
merchandise in November were machinery, mechanical appliances, and electrical
equipment parts, which accounted for 20.4 percent of total merchandise imports.
In November 2022, exports to China amounted to
SR20.6 billion or 18.3 percent of total export, making the Asian giant the main
destination for exports from Saudi Arabia, the report added.
China was followed by Japan and India with SR11.7
billion and SR10.3 billion of the total exports, respectively.
South Korea, the US, the UAE, Egypt, the
Netherlands, Poland, and Bahrain were the other countries included in the top 10
list for Saudi Arabia’s exports.
As for Saudi imports, China also took the lead
with its imports amounting to 23 percent of the total during that period
reaching SR14.4 billion.
The US followed with imports at SR6.2 billion, or
9.8 percent of Saudi imports, in November 2022. The UAE came in third with SR3.3
billion worth of imports accounting for 5.3 percent of the total, showed the
Jeddah Islamic Sea Port topped the list of ports
through which goods reached the Kingdom at a value of SAR16.8 billion,
corresponding to 26.8 percent of the total imports.