Saudi Arabia's Merchandise Exports Soar to Record High in 2022
Saudi Arabia's merchandise exports soared 48.9% in 2022 to reach a record high of SR1.54 trillion ($410 billion), driven by a surge in oil exports, according to the latest report by the General Authority for Statistics (GASTAT).
The report shows that oil exports increased by 61.8% to SR1.22 trillion, while non-oil exports and re-exports rose 13.7% to SR315.7 billion.
The report notes that chemicals and allied products were the most important non-oil export goods, accounting for 35.8% of the total exports.
Saudi Arabia's imports increased 24.2% to SR712 billion in 2022, with China remaining the Kingdom's largest trading partner, accounting for 16.2% of the total exports.
Imports from China, the US, the UAE, India, and Japan were among the top 10 destinations for Saudi Arabia's exports, accounting for 66.2% of the total imports.
The Jeddah Islamic Port was the top port for goods entering the Kingdom, accounting for 27.5% of the total imports.
The report notes that chemicals and allied products were the most important non-oil export goods, accounting for 35.8% of the total exports.
Saudi Arabia's imports increased 24.2% to SR712 billion in 2022, with China remaining the Kingdom's largest trading partner, accounting for 16.2% of the total exports.
Imports from China, the US, the UAE, India, and Japan were among the top 10 destinations for Saudi Arabia's exports, accounting for 66.2% of the total imports.
The Jeddah Islamic Port was the top port for goods entering the Kingdom, accounting for 27.5% of the total imports.