Saudi Arabia’s non-oil exports rise by 19.7% in November 2024

Non-oil exports, including re-exports, recorded a 19.7% increase compared to November 2023, while national non-oil exports, excluding re-exports, rose by 2.1%, and the value of re-exported goods rose by 82.9% in the same period. Merchandise exports decreased by 4.7% in November 2024 compared to November 2023; This is due to a 12.3% decrease in oil exports. The percentage of oil exports from total exports decreased from 76.3% in November 2023 to 70.3% in November 2024.

In terms of imports, they increased in November 2024 by 13.9%. When looking at the merchandise trade balance, the surplus decreased by 44.3% compared to November 2023.

The Authority explained that the percentage of non-oil exports, including re-exports to imports, in November 2024 amounted to 36.6% compared to 34.8% in November 2023; This is due to the increase in non-oil exports, which amounted to 19.7% compared to an increase in imports, which amounted to 13.9% during this period.

She added that “chemical industry products” are among the most important non-oil export commodities, as they constituted 24% of total non-oil exports, and decreased by 1.6% compared to November 2023, followed by “plastics, rubber and their products” (representing 21.7% of total non-oil exports, which increased by 4% compared to November 2023.

On the other hand, the most important imported commodities were “machinery, electrical appliances and equipment and their parts”, which constituted 28.1% of total imports, and increased by 22.4% compared to November 2023, then “transportation equipment and its parts”, which constituted 14.2% of total imports, and increased by 22.0% compared to November 2023.

China is the main destination for the Kingdom’s exports

China is the main destination for the Kingdom’s exports, which constituted 14.9% of total exports in November 2024, followed by Japan 9.9% of total exports, then the UAE 9.7% of total Exports, India, South Korea, the United States of America, Singapore, Malaysia, the Kingdom of Bahrain, and Egypt were among the top 10 countries to which exports were made, and the total value of the Kingdom’s exports to these ten countries amounted to 70% of total exports. China also ranked first in the Kingdom’s imports, which accounted for 27.3% of total imports in November 2024, followed by the United States of America with 10.2% of total imports, then the UAE with 5.3% of total imports, and Germany, India, Japan, Italy, Switzerland, Egypt, and South Korea were among the top 10 countries from which the Kingdom imported, with the total value of the Kingdom’s imports from these ten countries amounting to 67.4% of total imports.