Oil exports controlled 77% of total Saudi exports in February

The report of the important Authority for Statistics revealed that Saudi exports during the month of January 2024 reached 95 billion riyals compared to the similar month of the previous year, which amounted to 105 billion riyals, a decrease of 10%, while in February the volume of exports was estimated at 95 billion riyals compared to the similar month of the year. The previous one was about 97 billion riyals, a decrease of 2%, as the share of the volume of petroleum exports out of total exports was considered to be about 77%.

  In second place are the products of chemical and related industries, with a value of about 5.4 billion riyals, while in third place in the volume of exports are plastics and their products, rubber and their products, with a value of 5.2 billion riyals, while in fourth place come machines and mechanical devices, electrical equipment, with a total value estimated at about 3.5 billion riyals. One billion riyals.

During the month of January 2024, Saudi imports reached about 66.7 billion riyals compared to the same month of the previous year, at about 66 billion riyals, with a growth rate of 1%, and during the month of February, imports reached about 63 billion riyals, compared to the same month of the previous year, at about 56 billion riyals, with an increase of 12%. .

As for the total volume of international trade in January 2024, it is estimated at about 161 billion riyals compared to the same month of the previous year at about 171 billion riyals, a decrease of 6%. In February, the volume of international trade reached about 158 billion riyals compared to the same month of the previous year, with an estimated value of 153 billion. Riyal with a growth rate of 3%.

The trade balance recorded a surplus during January and February 2024 of about 28 and 32 billion riyals, respectively.