Friday, 29 March 2024

Value rose to SR91.8 billion, in July 2021 

Saudi Oil Exports Increased by 112.1%, in July

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Kingdom of Saudi Arabia’s overall merchandise exports increased by 79.6%, in July 2021, compared to July 2020, as international trade was reversely impacted by COVID-19 related lockdowns and travel bans, in numerous countries, a report showed.

The General Authority for Statistics (GASTAT) released on Wednesday the International Trade report for July 2021.

It showed that the value of exports amounted to SR91.8 billion, in July 2021, up from SR51.1 billion, in July 2020.

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This increase originated mainly from oil exports, which rose by 112.1% (SR37.5 billion) in the same period.

Share of oil exports, in total exports increased from 65.5% (July 2020) to 77.4% (July 2021), and compared to the previous month (June 2021), total merchandise exports increased by 8.2% SR7.0 billion.

Merchandise imports increased by 13.2% SR5.3 billion, in July 2021, while the value of imports amounted to SR45.6 billion, in July 2021 compared to SR40.3 billion, in July 2020.

The ratio of non-oil exports to imports increased to 45.5% in July 2021, from 43.7% in July 2020, as a result of a higher increase in non-oil exports (17.9%) to imports (13.2%) over the period.

In July 2021, exports to China amounted to SR18.0 billion (19.6% of total exports), making it the main destination for exports of Saudi Arabia. South Korea and India followed next with SR9.0 billion (9.8% of total exports) and SR8.3 billion (9.1% of total exports), respectively.

Japan, the Emirates, the U.S., Egypt, Taiwan, France, and Bahrain were the other countries, that ranked in the top 10 destinations.

Exports of Saudi Arabia to those 10 countries amounted to SR61.9, accounting for 67.5% of its total exports.

Imports from China amounted to SR9.9 billion or 21.8% of total imports, in July 2021, making this Asian country the main origin for imports of Saudi Arabia.

The U.S., and the Emirates followed next with imports of SR4.8 billion (10.6% of total imports) and SR3.1 billion (6.7% of total imports), respectively.

India, Germany, Japan, Canada, Italy, Belgium and Egypt were the other countries that ranked in the top 10 countries for imports.

Imports of Saudi Arabia from those 10 countries amounted to SR28.7 billion, accounting for 62.8% of total imports

Jeddah Islamic Sea Port was one of the most important for imports entry, where SR12.8 billion of imports, corresponding to 28.0% of the total entered the Kingdom, has been through Jeddah Islamic Port, in July 2021.

Among the other major ports of entry for the imports were King Abdulaziz Port (19.9%), King Khalid International Airport (10.8%), Ras Tannorah Port (6.7%), and King Abdulaziz International Airport (6.4%).

Those five, sea and dried ports, together accounted for 71.8% of the total merchandise imports of the Kingdom.

 

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