General Authority for Statistics issued Saudi Arabia's International Trade Publication for Q1 of 2023. According to the publication, the value of merchandise exports of Saudi Arabia during Q1 of 2023 amounted to SAR 313.5 billion, compared to SAR 367.1 billion during Q1 of 2022, with a decrease of SAR 53.6 billion, by 14.6%.
The publication indicated that the value of oil exports in March 2023 recorded 245,4 billion SAR compared to 288,5 billion SAR in March 2022 during Q1, with a decrease of 43,1 billion SAR by 14.9%. On the other hand, the decline of non-oil exports was the main driver of merchandise exports decline.
According to the publication's results, the value of non-oil exports (including re-export) during March 2023 amounted to SAR 68,1 billion SAR, compared to SAR 78,6 billion SAR during March 2022, with a decrease of SAR 10,5 billion SAR, by 13.3%.
While the value of imports during Q1 of 2023 amounted to 186.4 billion SAR, compared to 157.9 billion SAR during Q1 of 2022 , with an increase of (28.5 billion) twenty-eight billion five hundred million SAR, by (18.0%).
It is worth noting that GASTAT is the only official statistical reference for statistical data and information in Saudi Arabia. It carries out all the statistical work, in addition to the technical oversight of the statistical sector. It also designs and implements field surveys, conducts statistical studies and researches, analyzes data and information, in addition to documenting and archiving all works of information and statistical data that cover all aspects of life in Saudi Arabia from its multiple sources. Data are written, classified, and analyzed; their indicators are extracted as well.