Saudi Arabia Sees 22.8% Increase in Non-Oil Exports for September 2024

KSA, 25 November, 2024 : Saudi Arabia's non-oil exports grew by 22.8% in September 2024, according to the General Authority for Statistics (GASTAT). Non-oil national exports rose by 11.6%, excluding re-exports, while the value of re-exports increased significantly by 65.4% during the same period, as reported in the International Trade Bulletin for September 2024.

The data also showed a 14.9% decrease in commodity exports, with the percentage of oil exports dropping from 79.7% in September 2023 to 70.7% in September 2024. In contrast, Saudi Arabia’s imports grew by 15%, and the merchandise trade surplus saw a significant decline of 56.9% compared to the previous year.

Despite the increase in imports, the share of non-oil commodity exports rose to 37.1% in September 2024, highlighting the country’s continued efforts to diversify its export base and reduce dependence on oil exports.

Source : www.zawya.com