The Non-oil exports increased by 38.2% year-on-year in September 2021, rising to SR25.3 billion from SR18.3 billion in September 2020. Of the most important non-oil goods, ‘Plastics and Rubber and Articles Thereof’ (31.4% of non-oil merchandise exports) increased by 42.8% SR2.4 billion and ‘Products of the Chemical or Allied Industries’ (28.5% of non-oil merchandise exports) increased by 31.4% SR1.7 billion from September 2020. Non-oil exports increased compared to the previous month (August 2021) by 2.3 billion riyals or 10.1%.
According to a report submitted by the General Authority for Statistics, overall merchandise exports increased by 77.4% in September 2021 compared to September 2020, when international trade was impacted by COVID-related lockdowns and travel bans in numerous countries.
The value of exports amounted to SR94.7 billion in September 2021, up from SR53.4 billion in September 2020. This increase originated mainly from oil exports, which rose by SR34.3 billion or 97.8% in the same period.
The share of oil exports in total exports increased from 65.7% (September 2020) to 73.3% (September 2021). Compared to the previous month (August 2021), total merchandise exports increased by 5.5 billion riyals or 6.1%.
Merchandise imports increased by 9.2% (SR3.8 billion) in September 2021. The value of imports amounted to SR45.8 billion in September 2021 compared to 42.0 billion riyals in September 2020. This increase was due to the increase in many sectors, mainly ‘Machinery and Mechanical Appliances; Electrical Equipment’ (15.9%), and ‘Products of the Chemical or Allied Industries’ (17.9%), Imports, however, decreased compared to the previous month (August 2021) by SR-5.7 billion or 11.0%.
The ratio of non-oil exports to imports increased to 55.2% in September 2021 from 43.6% in September 2020, as a result of a higher increase in non-oil exports (38.2%) than in imports (9.2%) over that period.
China is Saudi Arabia’s main trading partner for merchandise trade in September 2021 in September 2021, exports to China amounted to SR15.9 billion (16.8% of total exports), making this country the main destination for exports of Saudi Arabia. India and Japan followed next with 9.8 billion (10.3% of total exports) and 9.7 billion (10.2% of total exports), respectively.
South Korea, US A, United Arab Emirates, Egypt, Bahrain, Kenya, and Taiwan were the other countries that ranked in the top 10 destinations. Exports of Saudi Arabia to those 10 countries amounted to SR65.0 billion, accounting for 68.7% of total exports.
The report pointed out that imports from China amounted to SR9.7 billion (21.2% of total imports) in September 2021, making this country the main origin for imports of Saudi Arabia. USA and United Arab Emirates followed next with imports of SR4.1 billion (9.0% of total imports) and SR3.1 billion (6.8% of total imports), respectively.
India, Germany, Egypt, Japan, South Korea, Italy and France were the other countries that ranked in the top 10 countries for imports. Imports of Saudi Arabia from those 10 countries amounted to SR29.0 billion, accounting for 63.3% of total imports.
The report disclosed that SR10.8 billion of imports, corresponding to 23.5% of the total, entered the Kingdom from Jeddah Islamic Sea Port in September 2021. Among the other major ports of entry for the imports were King Abdulaziz Port (20.6%), King Khalid International Airport (12.1%), Bat’ha (6.8%), and King Abdulaziz International Airport (6.3%). Those five ports together accounted for 69.3% of the total merchandise imports of the Kingdom.