GASTAT: Non-Oil Exports Increase by 18.1% in December 2024

Non-oil exports grew by 18.1% in December 2024 compared to December 2023, while re-exported goods rose by 23.4%, merchandise exports declined by 2.8%, and imports saw an increase of 27.1% during the same period.
The results of the International Trade Statistics Bulletin for December 2024, issued today by the General Authority for Statistics (GASTAT), revealed that chemical industry products were a major non-oil export, representing 25.9% of total non-oil exports for the month.
Meanwhile, the bulletin’s results for the fourth quarter (Q4) of 2024 also indicated a 17.3% increase in non-oil exports (including re-exports) compared to the fourth quarter of 2023. National non-oil exports (excluding re-exports) rose by 8.2%, while the value of re-exported goods surged by 47.3% during the same period. Merchandise exports in Q4 2024 declined by 6.1% compared to Q4 2023, which GASTAT attributed to a 13.3% drop in oil exports. Also, the share of oil exports in total exports decreased from 76.4% in Q4 2023 to 70.5% in Q4 2024.
The bulletin showed that imports increased by 15.5% in Q4 2024, while the trade balance surplus declined by 52.4% in Q4 2024 compared to Q4 2023.