Saudi Non-oil exports increase by 12.7% in October 2024

Non-oil exports, including re-exports, recorded an increase of 12.7% compared to October 2023, while national non-oil exports, excluding re-exports, increased by 5.1%. Moreover, the value of re-exported goods increased by 47.1% during the same period.
Meanwhile, merchandise exports decreased by 10.7% in October 2024 compared to October 2023, as a result of a 17.2% decrease in oil exports.
Consequently, the percentage of oil exports out of total exports decreased from 78.3% in October 2023 to 72.6% in October 2024.
On the other hand, imports decreased by 3.8% in October 2024, and surplus of the merchandise trade balance decreased by 28.6% compared to October 2023.