Merchandise exports amounted to SAR97.1 billion in May 2023, compared to SAR143.0 billion in May 2022, a decrease of SAR45.9 billion, or 32.1%, according to the International Trade Report of May 2023 of the General Authority for Statistics (GASTAT).
According to the report, the value of oil exports in May 2023 amounted to SAR72.0 billion, compared to SAR115.5 billion in May 2022, a decrease of SAR43.5 billion, or 37.7%. Yet, the downturn in non-oil exports was the main driver of merchandise exports decline. The value of non-oil exports (including re-export) in May 2023 amounted to SAR25.1 billion, compared to SAR27.5 billion in May 2022, a decrease of SAR2.4 billion, or 8.7%.
On the other hand, the value of merchandise imports in Saudi Arabia in May 2023 amounted to SAR67.7 billion, compared to SAR56.0 billion in May 2022, an increase of SAR11.7 billion, or 20.9%.
GASTAT is the only official reference for statistical data and information in Saudi Arabia. It carries out all statistical work, as well as the technical oversight of the statistical sector. It also designs and implements field surveys, conducts statistical studies and researches, analyzes data and information, and documents and archives all works containing information and statistical data on all aspects of life in Saudi Arabia. It gathers, classifies and analyzes data, and extracts indicators from it.
.
Source: Saudi Press Agency