Saudi Arabia has registered a whopping 83.4 percent increase in its overall merchandise exports to reach SAR144.1 billion ($38.3 billion) in May 2022, compared to SAR78.6 billion in the same month last year.
The spike in overall exports was mainly on account of oil exports, which rose by SAR59.7 billion – or 105.5 percent – last month over the same month of 2021, SPA reported, quoting the General Authority for Statistics (GASTAT).
On a consequential basis, total merchandise exports increased by SAR6.4 billion – or 4.7 percent – in May over the previous month of this year.
The share of oil exports in total exports increased from 72 percent in May 2021 to 80.6 percent in May this year.
Non-oil exports, including re-exports, increased by 26.7 percent year-on-year in May 2022, rising to SAR27.9 billion from SAR22.0 billion in May last year.
Merchandise imports increased by 21.8 percent to SAR53.9 billion in May 2022 compared to SAR44.2 billion in the corresponding month of last year.
GASTAT is the official statistical body for data and information in Saudi Arabia.
Follow us on
