Saudi Arabia records an 88% growth in Arms exports

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Saudi Arabia exported weapons, parts, and ammunition worth SR13.4 million in April 2022, an 87.77 percent hike compared to April 2021,

Riyadh: Saudi Arabia exported weapons, parts, and ammunition worth SR13.4 million in April 2022, an 87.77 percent hike compared to April 2021, when the value of weapons exports stood at SR7.1 million.

According to government reports, Saudi Arabia’s exports of carriages, ships, aircraft, and other transport equipment increased by 18.2 percent during April 2022 compared to the same period in 2021.

This increase brings the value of weapons exports to about SR1.84 billion. These exports recorded an increase of 28.47 percent in April compared to the previous month.

The report states that the total merchandise exports in April increased by 98 percent, reaching SR137.12 billion compared to last year’s sales.

The export of metal products rose by 122 percent and other miscellaneous products and goods by 120 percent.

Saudi exports to Australia and the Pacific Islands also recorded strong growth during the past year; with exports rising an unprecedented 287 percent.

Exports to North American countries increased by 125 percent and 129% to European Union countries.

Concerning petroleum exports, Saudi Arabia maintained its ceiling at over SR100 billion; bringing the value of oil exports to SR109.95 billion.

Oil exports stood at 80 percent of the total exports. In contrast, the report pointed out that non-oil exports amounted to about SR22.73 billion, and re-exports amounted to SR4.64 billion.

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