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20240512626

GASTAT: Non-oil exports increase by 18.1% in December 2024

25-02-2025

The General Authority for Statistics (GASTAT) issued the International Trade Statistics Publication for December 2024. According to the results, non-oil exports recorded an increase of 18.1% compared to December 2023. The value of re-exported goods also increased by 23.4% during the same period. However, merchandise exports decreased by 2.8% in December 2024, while imports  increased by 27.1% compared to December 2023.
The results indicated that "chemical industry products" are among the most important non-oil export goods, accounting for 25.9% of total non-oil exports. 

Furthermore, the results of the International Trade Publication for Q4 of 2024 showed a 17.3% increase in non-oil exports (including re-exports) compared to Q4 of 2023. National non-oil exports (excluding re-exports) increased by 8.2%, while the value of re-exported goods increased by 47.3% during the same period. However, merchandise exports in Q4 of 2024 decreased by 6.1% compared to the same period in 2023, mainly due to a 13.3% decrease in oil exports. The share of oil exports in the total exports decreased from 76.4% in Q4 of 2023 to 70.5% in Q4 of 2024.
Regarding imports, there was a 15.5% increase in Q4 of 2024. In terms of trade balance, the surplus decreased by 52.4% from Q4 of 2023.
It is worth noting that international trade statistics rely on administrative records from the Zakat, Tax, and Customs Authority (non-oil) and the Ministry of Energy (oil). The Kingdom's merchandise exports and imports are classified according to the Harmonized Commodity Description and Coding System 2022.
 

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