Riyadh: Non-oil exports grew by 18.1% in December 2024 compared to December 2023, while re-exported goods rose by 23.4%, merchandise exports declined by 2.8%, and imports saw an increase of 27.1% during the same period.
According to Saudi Press Agency, the results of the International Trade Statistics Bulletin for December 2024, issued today by the General Authority for Statistics (GASTAT), revealed that chemical industry products were a major non-oil export, representing 25.9% of total non-oil exports for the month.
Meanwhile, the bulletin's results for the fourth quarter (Q4) of 2024 also indicated a 17.3% increase in non-oil exports (including re-exports) compared to the fourth quarter of 2023. National non-oil exports (excluding re-exports) rose by 8.2%, while the value of re-exported goods surged by 47.3% during the same period. Merchandise exports in Q4 2024 declined by 6.1% compared to Q4 2023, which GASTAT attributed to a 13.3% drop in oil exports. Also, the share of oil exports in total exports decreased from 76.4% in Q4 2023 to 70.5% in Q4 2024.
The bulletin showed that imports increased by 15.5% in Q4 2024, while the trade balance surplus declined by 52.4% in Q4 2024 compared to Q4 2023.