Merchandise exports to the Kingdom of Saudi Arabia increased by 83.4% to reach 144.1 billion riyals in May 2022, compared to 78.6 billion riyals in May 2021.
According to Arab Net, data from the General Authority for Statistics in Saudi Arabia showed that the increase came as a result of an increase in petroleum exports by 59.7 billion riyals, or 105.5% in May 2022, to 116.2 billion riyals, compared to 56.54 billion riyals in May 2021.
The percentage of petroleum exports out of total exports rose to 80.6 percent last May, compared to 72 percent in May 2021.
On a monthly basis, the value of merchandise exports increased by 6.4 billion riyals, by 4.7%, in May 2022, compared to last April.
And non-oil exports, which include re-exports, increased by 26.7% to 27.9 billion riyals in May 2022, compared to 22 billion riyals in May 2021, while the value of non-oil exports decreased by 0.1% compared to April 2022.
Imports increased by 21.8% by 9.6 billion riyals in May 2022 to 53.9 billion riyals, compared to 44.2 billion riyals in May 2021, and imports decreased by 4% compared to April 2022.
The trade surplus amounted to 90.27 billion riyals in May 2022, compared to 34.37 billion riyals in May 2021, an increase of 163%.
