According to the latest figures released by Saudi Arabia’s General Authority for Statistics (GaStat), the country recorded a 49.6 percent increase in merchandise exports in the month of January compared to the same month last year.
The merchandise exports growth in January was reported at $28.68 billion (SR107.6bn), compared to $19.11 billion (SR71.7bn) during the same period in 2021.
According to the GaStat report, the increase in exports was due to an $8.13 billion or 57.5 percent increase in petroleum exports. Petroleum exports accounted for 77.6 percent of total exports last January, compared to 73.7 percent in January 2021.
The GaStat’s figures revealed that the non-oil exports grew by 27.5 percent in January, valued at $6.42 billion, compared to $5.03 billion in the same period in 2021.
The ratio of non-oil exports to imports increased by 46.5 percent from 39.4 percent in January 2021, noting that this growth came as a result of an increase of 27.5 percent in non-oil exports, compared to the increase in imports by 8.1 percent.
China topped the list of countries accepting Saudi goods worth $4.61 billion. India is next with $3.17 billion, followed by South Korea with $2.96 billion. The list is followed by Japan, the UAE, the United States, Taiwan, Singapore, Egypt, and Bahrain.
