Riyadh – As a result of the increase in oil exports by SR62.9 billion, or 123.0%, the merchandise value exports to Saudi Arabia recorded about SR142.2 billion during March 2022, compared to SR73.6 billion in March 2021, the General Authority for Statistics (GASTAT) announced.
The GASTAT reports oil exports increased from 69.5% in March 2021 to 80.2% in March 2022. Other merchandise exports to Saudi Arabia also recorded an increase of SR33.2 billion or 30.5%.
All non-oil exports from the Kingdom recorded an increase during March 2022 and reached SR28.2 billion, compared to SR22.5 billion in March 2021.
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This means it has recorded a rise of SR5.7 billion, by 25.4%. At the same time, it recorded an increase of SR3.2 billion, or 12.8%, compared to February 2022.
The value of the Kingdom’s merchandise imports during March of 2022 had recorded an increase to SR55.2 billion, compared to March 2021, when it amounted to SR50.3 billion at the time, which resulted in an increase of SR4.9 billion, or 9.8%.
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Saudi imports’ also increased by SR6.1 billion, or 12.5%. compared to February 2022
GASTAT indicated an increase in oil exports in Saudi Arabia by SR133.6 billion or 90.3%. The Kingdom’s merchandise exports amounted to about SR359.3 billion in the first quarter (Q1) of 2022.
Compared to SR208.0 billion in the same period in 2021, with an increase of 72.7%.
The total increase of petroleum exports of total exports reached 78.3% from 71.1% for the first quarter YoY. GASTAT said that merchandise exports’ value recorded a rise of SR37.4 billion or 11.6%.
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Non-oil exports increased from SR60.1 billion to SR77.8 billion, or 29.4%. In comparison, the non-oil exports’ value decreased by SR4.4 billion, or 5.4%, compared to the 4Q of 2021.
GASTAT reported imports witnessed a 12.5% increase, SR17.4 billion. A value of SR156.8 billion in the 1Q of 2022, compared to SR139.4 for the 1Q of 2021.
The imports’ value has also recorded an increase compared to the 4Q of 2021, by SR8.2 billion, or 5.5%.
