RIYADH, Saudi Arabia: The Kingdom of Saudi Arabia’s overall merchandise exports increased by 48.9 percent in 2022 as compared to 2021, stated the latest report released by the General Authority for Statistics (GASTAT) on Wednesday.
The value of Saudi Arabia’s exports amounted to SAR 1,541.9 billion in 2022, up from SAR 1,035.7 billion in 2021.
The report stated that this increase originated mainly from oil exports which rose by SAR 468.2 billion or 61.8 percent in the same period, increasing to SAR 1,226.3 billion from SAR 758.1 billion in 2021.
The share of oil exports in total exports increased from 73.2 percent in 2021 to 79.5 percent in 2022.
The non-oil exports (including re-exports) increased by 13.7 percent as compared to 2021, increasing to SAR 315.7 billion from SAR 277.5 billion in 2021 whereas the non-oil exports (excluding re-exports) increased by 14.8 percent as re-exports also rose by 8.6 percent in the same period.
The merchandise imports increased by 24.2 percent (SAR 138.9 billion) in 2022.
The value of imports amounted to SAR 712.0 billion in 2022 compared to SAR 573.2 billion in 2021.