According to November 2021 Foreign Trade Bulletin released by the General Authority for Statistics (GASTAT), Saudi Arabia’s non-oil exports increased by 26.1 percent in November, compared to the same month last year.
The non-oil exports growth in November posted $6.93 billion, surging from $5.49 billion in November 2020, while the value of non-oil exports increased by 9 percent, amounting to $560 million compared to October 2021.
According to the bulletin, Saudi merchandise exports in November recorded an increase of 82.5 percent compared to the same month last year, as global trade was affected by the travel ban due to the COVID-19.
Saudi Arabia’s merchandise exports value during November 2021 amounted to about $28.6 billion, as it witnessed a growth of $15.6 billion from its value in the same month last year, as a result of the increase in the petroleum exports by 112.8 percent, amounting to $11.49 billion.
The proportion of petroleum exports out of the total exports rose from 65 percent in November 2020 to 75.8 percent in November 2021, while the merchandise export value increased by $290 million compared to October 2021 by 1 percent.
Meanwhile, due to the rise in commodity prices, the Kingdom’s merchandise imports has recorded an increase of 1.4 percent in November 2021, amounting to $190 million, as it reached $13 billion in November 2021, compared to $12 billion in November 2020.
According to the results of the bulletin, Saudi Arabia’s imports value increased by 5.5 percent, amounting to $690 million in November 2021, compared to October 2021.
During the period, China was the Kingdom’s main trading partner, accounting for 17.2 percent of total exports and 20.6 percent of imports. India and Japan were other major recipients of Saudi goods and services, buying 11.6 percent and 9.6 percent, respectively, of total exports. South Korea, the US, the UAE and Egypt were also among the top 10 exporting destinations.