By Elias Al Helou

Home Sector Logistics Saudi Arabia’s non-oil exports rise by 12.7 percent in October

Saudi Arabia’s non-oil exports rise by 12.7 percent in October

National non-oil exports, excluding re-exports, saw a rise of 5.1 percent

The value of goods that were re-exported surged by 47.1 percent during the same timeframe.

Published: Thu 26 Dec 2024, 6:29 PM

Last updated: Thu 26 Dec 2024, 6:32 PM

Saudi Arabia experienced a 12.7 percent increase in non-oil exports year-on-year in October, GASTAT revealed in its latest report.

According to the General Authority for Statistics, national non-oil exports, excluding re-exports, saw a rise of 5.1 percent.

The value of goods that were re-exported surged by 47.1 percent during the same timeframe.

#GASTAT publishes International Trade Report for October 2024
— الهيئة العامة للإحصاء (@Stats_Saudi) December 25, 2024

Merchandise exports fell by 10.7 percent in October 2024 compared to October 2023, primarily due to a 17.2 percent decline in oil exports. As a result, the proportion of oil exports in relation to total exports decreased from 78.3 percent in October 2023 to 72.6 percent in October 2024, as reported by GASTAT.

Furthermore, imports also saw a decline of 3.8 percent in October 2024, while the surplus of the merchandise trade balance dropped by 28.6 percent compared to the previous year.