Saudi merchandise exports increased by 90% in October 2021 compared to the same month last year, when international trade was affected by the ban and travel ban related to the Covid-19 pandemic.
According to Arabiya Net, the General Authority for Statistics stated in a report that merchandise exports amounted to 106.2 billion riyals in October 2021, up from 55.9 billion riyals in October 2020, as a result of an increase in petroleum exports by 45.5 billion riyals, or 123.1%.
The value of petroleum exports reached 82.39 billion riyals in October 2021, compared to 36.93 billion riyals in October 2020.
The proportion of petroleum exports to the total exports increased from 66.1% in October 2020 to 77.6% in October 2021.
The value of merchandise exports increased compared to September 2021 by 11.5 billion riyals, or 12.2%.
Non-oil exports also recorded a 25.5% increase from October 2020, as they recorded 23.8 billion riyals, compared to 19.0 billion riyals. While the value of non-oil exports decreased by 1.5 billion riyals, or 5.9% compared to September 2021.
As for imports, they rose in October 2021 by 7.6%, by 3.3 billion riyals, reaching 46.3 billion riyals in October 2021, compared to 43.0 billion riyals. The value of imports decreased compared to the previous month, September 2021, by 1.1 billion riyals, or 2.4%.
The ratio of non-oil exports to imports rose to 51.4% in October 2021, compared to 44.1% in October 2020, as a result of the significant increase in non-oil exports.
The trade surplus amounted to 59.899 billion riyals during last October, compared to 12.867 billion riyals during the same month of 2020, an increase of 365.5%.
