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Saudi second-quarter exports jump on eased lockdown, oil rally

Total revenue was $63.6bn, up from $17bn a year earlier, according to the General Authority for Statistics

By Bloomberg
China was the biggest export destination in the second quarter, followed by India, Japan, South Korea, the US and the United Arab Emirates.

China was the biggest export destination in the second quarter, followed by India, Japan, South Korea, the US and the United Arab Emirates.

Saudi Arabia’s exports rose 99.4 percent during the second quarter of the year on an annual basis, driven mainly by the easing of Covid-19 lockdown measures and a recovery in oil prices.

Total revenue was SAR238.6 billion ($63.6bn), up from around SAR120bn ($17bn) a year earlier, according to a statement by the General Authority for Statistics on Tuesday. Oil exports rose 126 percent during the quarter.

Non-oil exports increased by 52 percent year-on-year to about SAR66bn ($17.6bn) from nearly SAR43bn ($11.5bn).

Plastic and rubber products amounted to more than 34 percent, the biggest portion in non-oil exports.

The share of oil exports in the total number increased to 72.5 percent from 64 percent a year ago.

China was the biggest export destination in the second quarter, followed by India, Japan, South Korea, the US and the United Arab Emirates.

Revenue during June increased about 92 percent year-on-year to SAR85bn ($22.7bn).

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