Non-oil exports in December 2024 decreased by 2.8%, and on the import side, they increased by 27.1% compared to December 2023.
National non-petroleum exports rose
The results of the International Trade Statistics Bulletin for December 2024 issued by the General Authority for Statistics today showed that “chemical industry products” is one of the most important commodities of non-petroleum exports, accounting for 25.9% of total non-petroleum exports.
The results of the International Trade Statistics Bulletin for the month of December 2024 issued by the General Authority for Statistics today.
On the other hand, the results of the International Trade Bulletin for the fourth quarter of 2024 reported an increase in non-oil exports (including re-exports) by 17.3% compared to the fourth quarter of 2023, while national non-oil exports (excluding re-exports) increased by 8.2%, while the value of re-exported goods increased to 47.3% in the same period.
According to the International Trade Bulletin for the fourth quarter of 2024, the value of non-oil exports increased by 47.3% in the same period. According to the Statistics, merchandise exports in Q4 2024 decreased by 6.1% from Q4 2023 due to a decrease in petroleum exports by 13.3%, and the share of petroleum exports in total exports decreased from 76.4% in Q4 2023 to 70.5% in Q4 2024.
In terms of imports, the value of goods re-exported (excluding re-exports) increased by 8.2%, while the value of re-exports increased by 47.3% over the same period. On the import side, it increased in Q4 2024 by 15.5%, and when looking at the merchandise trade balance, the surplus decreased by 52.4% from Q4 2023.
When looking at the goods trade balance, the surplus decreased by 52.4% from Q4 2023. International trade statistics are based on administrative records from the Zakat, Tax and Customs Authority (non-petroleum) and the Ministry of Energy (petroleum), and the Kingdom's commodity exports and imports are classified according to the Harmonized Commodity Description and Coding System 2022.
