Saudi Arabia’s Oil Exports’ Revenues Rose 113%

Saudi oil exports’ revenues have risen to SR43.1 billion ($11.49 billion), an increase of 112.8 percent, in November 2021, over the same month of the previous year, according to the General Authority for Statistics.

Percentage of petroleum exports out of the total exports increased from 65.0% in November 2020 to 75.8%, in November 2021, while the value of merchandise exports increased compared to October 2021 by SR1.1billion, or by 1%.

Meanwhile, the merchandise exports recorded in November 2021 an increase of 82.5% over the same month last year in November 2020, as international trade was severely impacted by the ban on travel related to the Covid-19 pandemic.

Overall value of the Kingdom’s merchandise exports, during November 2021 amounted to SR107.3 billion, an increase of SR58.8 billion over their value, in the same month last year.

This was a result of an increase, in petroleum exports revenues by SR43.1 billion, or 112.8%.