General Authority for Statistics: Non-oil exports increase by 28.4% in Q3 2021

The General Authority for Statistics (GaStat) reveled on Wednesday that the overall merchandise exports increased by 71.8% in Q3 2021 compared to Q3 2020 when international trade was impacted by Covid-related lockdowns and travel bans in numerous countries.

The value of exports amounted to SR275.9 billion in Q3 2021, up from SR160.6 billion in Q3 2020. This increase originated mainly from oil exports which rose by SR100.0 billion or 93.9% in the same period.

The share of oil exports in total exports increased from 66.4% (Q3 2020) to 74.9% (Q3 2021). Compared to the previous quarter (Q2 2021), total merchandise exports increased by SR37.2 billion or 15.6%.

Non-oil exports increased by 28.4% year-on-year in Q3 2021, rising to 69.3 billion riyals from 54.0 billion riyals in Q3 2020. Of the most important non-oil goods, ‘Plastics and Rubber and Articles Thereof’ (34.8% of non-oil merchandise exports) increased by 49.0% 7.9 billion riyals and ‘Products of the Chemical or Allied Industries’ (30.8% of non-oil merchandise exports) increased by 38.4% 5.9 billion riyals from Q3 2020, Non-oil exports increased compared to the previous quarter (Q2 2021) by 3.6 billion riyals or 5.5%.

Merchandise imports increased by 17.6% (21.6 billion riyals) in Q3 2021. The value of imports amounted to 144.6 billion riyals in Q3 2021 compared to 123.0 billion riyals in Q3 2020. This increase was due to the increase in many sectors, mainly ‘Vehicles and Associated Transport Equipment’ (58.1%), and ‘Mineral Products’ (48.3%). Imports also increased compared to the previous quarter (Q2 2021), by 2.2 billion riyals or 1.6%.