Saudi Arabia's Exports See Slight Increase in March 2023, Despite Decrease in Oil Shipments
Saudi Arabia's merchandise exports increased by 4.4% to $28 billion in March 2023, according to the General Authority for Statistics.
However, overall exports fell by 25.3% year-on-year due to a decrease in oil shipments.
Oil exports decreased by 26.5% to SR83.1 billion, while the share of oil in total exports decreased from 79.6% to 78.3%.
Non-oil exports, including re-exports, fell by 21% year-on-year to SR23 billion in March.
Saudi Arabia's merchandise imports rose by 9.8% to SR61.8 billion in March 2023.
China was the major merchandise trading partner of Saudi Arabia, accounting for 17.1% of total exports and 19% of total imports.
Oil exports decreased by 26.5% to SR83.1 billion, while the share of oil in total exports decreased from 79.6% to 78.3%.
Non-oil exports, including re-exports, fell by 21% year-on-year to SR23 billion in March.
Saudi Arabia's merchandise imports rose by 9.8% to SR61.8 billion in March 2023.
China was the major merchandise trading partner of Saudi Arabia, accounting for 17.1% of total exports and 19% of total imports.