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Saudi Arabia’s Oil Exports Climb 147% to $16 Bln in May

Saudi Arabia’s Oil Exports Climb 147% to $16 Bln in May

Wednesday, 28 July, 2021 - 17:00
A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. (Reuters)

The value of Saudi Arabia’s oil exports in May increased 147% to just over 60 billion riyals ($16 billion) from a year earlier while non-oil exports rose by 70%, official data showed on Wednesday.


“Overall merchandise exports increased by 120.1% in May 2021 compared to May 2020, when international trade was impacted by COVID-related lockdowns and travel bans in numerous countries”, the General Authority for Statistics said.


Oil exports accounted for 73.2% of total exports, up from 65.3% in May last year.


Non-oil exports rose to 22 billion riyals from 12.9 billion riyals in May 2020.


China remained Saudi Arabia’s main trading partner in May, with Saudi exports there corresponding to 21.4% of total exports.


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