Saudi Non-oil Exports Increased by 26.8%

Merchandise exports reported, in August 2021, posted an increase of 58.9% compared to August 2020, when international trade was affected by the travel ban related to the pandemic, with a value of SR89.2 billion in August 2021, up from SR56.1 billion, in August 2020.

However, that was a result of a parallel increase in petroleum exports, that stood at SR28.2 billion, as its proportion out of the total exports increased from 67.8% in August 2020 to 74.3% in August 2021.

The General Authority for Statistics indicated that non-oil exports recorded an increase of 26.8% compared to August 2020, as they recorded SR23.0 billion, compared to SR18.1 billion, and the most important commodities were plastics, rubber and their relevant products, making 36.4% of the total non-oil exports, which rose by 56.6% or an amount of SR3.0 billion.

The chemical and related industries products constituted 33.4% of the total non-oil exports, an increase of 66.2% or SR3.1 billion in August 2020, while the value of Non-oil exports compared to the previous month July 2021 amounted to SR1.9 billion, or an increase of 8.9%.
While imports recorded in August 2021 an increase of 23.6% or an amount of SR9.6 billion; its value amounted to SR50.3 billion, in August 2021, compared to SR40.7 billion, in August 2020.

This is as a result of the increase in commodity prices compared to August 2020, with transportation equipment and its parts, as the most influential with a percentage of 66.1%.

Percentage of non-oil exports to imports also increased to 45.6% in August 2021, compared to 44.4% in August 2020, as a result of the high rise in non-oil exports by 26.8% compared to the increase in imports by (23.6%) during this period.

In August 2021, the value of Saudi Arabia’s exports to China amounted to SR17.8 billion, or 19.9% of the total exports, making it the main destination for the Saudi exports, followed by India and Japan, with a value of SR8.3 billion or 9.3% of the total exports and SR8.2 billion or 9.2% of total exports, respectively.

South Korea, the Emirates, the United States, Egypt, Taiwan, Singapore and Belgium were among the most important 10 countries, to which the Kingdom exported, and the total exports of the Kingdom reached them totaled SR59.6 billion, or 66.8% of the total exports’ value.

On the other hand, the imports from China amounted to SR10.9 billion or 21.6% of the total imports, in August 2021, making the country ranking first for the imports of the Kingdom, followed by the United States and the Emirates, with a value of SR5.2 billion and SR10.4 billion, respectively.