Recent statistics showed a rise in the value of Saudi merchandise exports in March by 4.4 billion riyals ($1.1 billion), or 4.4 percent, compared to February, while the value of non-oil exports increased by about 1.5 billion riyals ($400 million), or by 7.2 percent over the same period.
On Thursday, the International Trade Bulletin for the month of March, issued by the Saudi General Authority for Statistics (GASTAT), revealed a decrease in the Kingdom’s overall merchandise exports by 25.3 percent year-on-year in March, as the value of exports amounted to 142 million riyals in the same month of 2022.
GASTAT pointed out that this year-on-year decrease in exports was primarily driven by a decrease in oil shipments, which fell 26.5 percent in March to 83.1 billion riyals.
Non-oil exports (including re-exports) decreased by 20.6 percent, to record 23 billion riyals ($6.1 billion) in March, compared to 28.9 billion riyals ($7.7 billion) in the same month of 2022.
According to the bulletin, imports rose in March by 9.8 percent, reaching 61.8 billion riyals ($16.4 billion), compared to 56.3 billion riyals ($15 billion) in the same period last year.
On a monthly basis, the value of imports increased by 8.5 percent, compared to February 2023.
