Saudi Arabia’s exports increased by 79.6 percent in the first half of 2021, reaching SR91.8 billion ($24.5bn) compared to the year earlier period, according to the General Authority for Statistics (GASTAT).
The kingdom’s International Trade report attributed the surge to the 112.1 percent increase in oil exports during the first six months of the year.
Non-oil exports also increased by 17.9 percent year-on-year in July, rising to SR20.8bn from SR17.6bn in the same period last year.
Oil exports continued to dominate total exports, with its share increasing from 65.5 percent in July 2020 to 77.4 percent this July.
China was the biggest export destination for the first half of the year, followed by South Korea, India, Japan, UAE, and US.
The value of imports into the kingdom recorded an increase, amounting to SR45.6bn in July compared to SR40.3bn last year.
The ratio of non-oil exports to imports increased to 45.5 percent in July from 43.7 percent in July 2020.
China was also the largest importer into Saudi Arabia, followed by the US, UAE, India, Germany, and Japan.
#GASTAT
Increase of non-oil exports by 17.9% in July 2021.For more detailshttps://t.co/49svohE71K pic.twitter.com/7ojsqQaQF0
— الهيئة العامة للإحصاء (@Stats_Saudi) September 22, 2021
The figures come a month after Saudi Arabia launched an international tendering service which aims to open new opportunities for companies to expand overseas.
Saudi Export Development Authority (Saudi Exports) said it launched the new service in a bid to increase the competitiveness of Saudi companies in several targeted sectors.
The move also aims to support Saudi Vision 2030 and its goals which include increasing the share of non-oil exports from 16 percent to 50 percent.
The launch comes as part of a major exports push by Saudi Arabia after the kingdom registered a double-digit increase in the first quarter of 2021 compared to the year-earlier period.
Follow us on
