Riyadh: Saudi Arabia saw its merchandise exports increase by 79.6 percent in July 2021. This increase is vast when compared to July 2020, when international trade was still affected by the COVID-19 pandemic.
The total value of Saudi merchandise exports amounted to a whopping SR91.8 billion in July 2021, in contrast to the SR51.1 billion exports in July 2020. The above latest figures were received from the General Authority for Statistics (GASTAT) last Wednesday.
GASTAT, the statistics authority, attributed the increase to the jump in petroleum exports, which rose by 112.1 percent or SR37.5 billion during the same period.
At the same time, merchandise exports from the Kingdom also increased by 8.2 percent in comparison to June 2021, with a value of SR7 billion.
Overall, the non-oil exports increased 17.9 percent in July 2021, to SR20.8 billion, a marked increase compared to SR17.6 billion in July 2020.
Of the essential non-oil goods, plastics, rubber, and their derivatives represent 37.6 percent of the total non-oil exports and increased by 47.7 percent or SR2.5 billion.
July ’21 also saw merchandise imports increase by 13.2 percent, an increase of SR5.3 billion, to reach SR45.6 billion, compared to the SR40.3 billion in July 2020.