GASTAT Reports a 22.8% Surge in Non-Oil Exports in September 2024

The General Authority for Statistics (GASTAT) revealed in its September 2024 International Trade Report a 22.8% increase in non-oil exports; national non-oil exports, excluding re-exports, rose by 11.6%; and the value of re-exported goods increased by 65.4% during the same period.

The report also indicated a 14.9% decline in merchandise exports in September 2024 compared to September 2023, attributed to a 24.5% decrease in oil exports. Furthermore, the percentage of oil exports as part of total exports decreased from 79.7% in September 2023 to 70.7% in September 2024.

Saudi imports rose by 15.0% in September 2024; there was a 56.9% decrease in the surplus of the merchandise trade balance compared to September 2023.

The report highlighted that the ratio of non-oil exports to imports rose to 37.1% in September 2024 from 34.8% in September 2023, driven by a 22.8% increase in non-oil exports and a 15.0% increase in imports during that timeframe.