Tuesday, April 23, 2024
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Tuesday, April 23, 2024
Today's News

Saudi Arabia’s oil exports value climbs over 11% to $23bn in December: GASTAT

Saudi Arabia’s oil exports value climbs over 11% to $23bn in December: GASTAT

RIYADH: Saudi Arabia’s oil export value for December 2022 climbed up 11.1 percent year-on-year to SR85.5 billion ($22.80 billion), according to the most up to date information released by the General Authority for Stats.

The GASTAT information recommended that the share of oil exports in overall exports boosted from 71.9 percent in December 2021 to 79 percent in December 2022.

The record additionally noted that the Kingdom’s total goods exports climbed by 1.1 percent in December 2022, contrasted to the exact same month in 2021.

The worth of exports amounted to SR108.2 billion in December 2022, up from SR107 billion in December 2021.

Saudi Arabia’s total goods exports, nevertheless, decreased by SR4.6 billion or 4.0 percent in December, compared to November 2022, the record kept in mind.

The GASTAT record even more included that Saudi Arabia’s non-oil exports consisting of re-exports reduced by 24.4 percent to SR22.7 billion in December 2022, from SR30.1 billion in the very same period in 2021.

Contrasted to November 2022, non-oil exports consisting of re-exports reduced by SR40 million or 0.2 percent in December 2022.

According to the record, Saudi Arabia’s goods imports raised by 16.9 percent to SR62.2 billion in December 2022, contrasted to SR53.2 throughout the very same duration a year earlier.

Product imports, however, lowered month-on-month in December 2022 by SR2.4 billion or 3.7 percent.

The GASTAT report disclosed that one of the most imported merchandise in December 2022 were machinery, mechanical appliances, and electric tools components, which made up 22.6 percent of total merchandise imports.

In December 2022, exports to China totaled up to SR16.2 billion or 15 percent of total export, making the Oriental giant the main destination for exports from Saudi Arabia.

China was carefully followed by Japan and also India with SR12.6 billion as well as SR11.3 billion of the overall exports, specifically.

When it comes to Saudi imports, China likewise took the lead with its imports totaling up to 21 percent of the total amount throughout that duration reaching SR13.7 billion, adhered to by the United States as well as the UAE with imports valued at SR6.4 billion as well as SR4.4 billion respectively.

The record even more revealed that the Jeddah Islamic Sea Port covered the listing of ports through which items reached the Kingdom in December 2022 at a value of SR18.2 billion, representing 29.2 percent of the total imports.

Last Updated:  22 February 2023

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