Saudi merchandise exports surge 49.6% in January 2022; GaStat

Saudi merchandise exports surge 49.6% in January 2022; GaStat

According to the latest figures released by Saudi Arabia’s General Authority for Statistics (GaStat), the country recorded a 49.6 percent increase in merchandise exports in the month of January compared to the same month last year.

The merchandise exports growth in January was reported at $28.68 billion (SR107.6bn), compared to $19.11 billion (SR71.7bn) during the same period in 2021.

According to the GaStat report, the increase in exports was due to an $8.13 billion or 57.5 percent increase in petroleum exports. Petroleum exports accounted for 77.6 percent of total exports last January, compared to 73.7 percent in January 2021.

Non-Oil Exports

The GaStat’s figures revealed that the non-oil exports grew by 27.5 percent in January, valued at $6.42 billion, compared to $5.03 billion in the same period in 2021.

The ratio of non-oil exports to imports increased by 46.5 percent from 39.4 percent in January 2021, noting that this growth came as a result of an increase of 27.5 percent in non-oil exports, compared to the increase in imports by 8.1 percent.

China topped the list of countries accepting Saudi goods worth $4.61 billion. India is next with $3.17 billion, followed by South Korea with $2.96 billion. The list is followed by Japan, the UAE, the