The General Authority for Statistics (GASTAT) announced today that non-oil exports increased by 22.8% in September 2024. Additionally, national non-oil exports, excluding re-exports, rose by 11.6%, while the value of re-exported goods increased by 65.4% during the same period, according to the International Trade Publication, September 2024.
The results also indicated a decline in total merchandise exports by 14.9% in September 2024, while the ratio of oil exports to total exports dropped from 79.7% in September 2023 to 70.7% in September 2024. The results further revealed a 15.0% increase in the Kingdom’s imports in September 2024. As for the trade balance, the surplus decreased by 56.9% compared to September 2024.
Moreover, the publication showed that the percentage of non-oil merchandise exports reached 37.1% in September 2024, due to the significant increase in non-oil exports (22.8%) in contrast to the rise in imports (15.0%).