Saudi non-oil exports rise by 3.3% in Q1-24

NOHA.GAD
May 23, 2024

Riyadh - Sharikat Mubasher: Saudi Arabia’s non-oil exports, including re-exports, rose by 3.3% during the first quarter (Q1) of 2024, compared to the same quarter of 2023, recent figures by the General Authority for Statistics (GASTAT) revealed.

The 'International Trade Q1-24' report showed that the value of non-oil exports, including re-exports, dropped by 0.2% during the first three months of 2024.

The ratio of non-oil exports, including re-exports, to imports declined to 34.7% in Q1-24, compared to 35.8% in Q1-23, driven by the significant 6.4 % increase in imports.

Chemical products contributed 25.1% of the total non-oil exports, making an 18.3% decrease in Q1-24 compared to the same quarter of 2023.

Plastics, rubber, and their products represented 22.8% of total non-oil exports, with a 0.6% decrease compared to Q1-23.

Merchandise exports decreased by 5.7% in Q1-24 compared to Q1-23, due to a decrease in oil exports by 8.3%.


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