RIYADH — The General Authority for Statistics (GASTAT) announced that the merchandise exports in Saudi Arabia has recorded an increase by 6.4% in the 4th quarter of 2022, compared to the same period of 2021. GASTAT said that the value of the merchandise exports has amounted to SR342,4 billion in the fourth quarter of 2022, compared the same period of 2021, as its value was at that time amounting to SR321,9 billion. This resulted from increase of the oil exports, which rose by SR31,7 billion or 13.2% in the same period, increasing to SR271,3 billion, compared to SR239,6 billion in Q4 2021. The share of oil exports in total exports rose from 74.4% in Q4 2021 to 79.2% in Q4 2022, GASTAT confirmed, while adding that the total merchandise exports, compared to Q3 2022, decreased by SR57,9 billion or 14.5%. Moreover, the non-oil exports (including re-exports) witnessed a decrease by 13.6%, compared to Q4 2021, as it has decreased to SR71,1 billion from SR82,2 billion in Q4 2021. The non-oil exports (excluding re-exports) decreased by 8.9% as re-exports also fell by 32.7% in the same period. Non-oil exports (including re-exports) decreased compared to Q3 2022 by SR7,9 billion or 10.0%, GASTAT revealed in a statement. In regard to merchandise imports, GASTAT said that it has increased in the Q4 of 2022 by 29.9%, by SR44,4 billion. Its value amounted to SR193,0 billion in Q4 2022, compared to SR148,6 billion in Q4 2021. Imports also surged compared to Q3 2022 by SR 10,2 billion or 5.6%. GASTAT said that China is considered the Kingdom's main trading partner for merchandise trade, as Saudi Arabia's exports to China amounted to SR59,1, by 17.3% of total exports in Q4 of 2022. This makes China the main destination for exports of Saudi Arabia. This is followed by Japan and India, with SR36,7 billion, 10.7% of total exports, and SR32,8 billion, 9.6% of total exports, respectively. South Korea, US, UAE, Egypt, Malaysia, Poland, and Taiwan were the other countries that ranked in the top 10 destinations, GASTAT confirmed, adding that the exports of Saudi Arabia to those 10 countries amounted to SR225,7 billion, accounting for 65.9% of total exports. It is noteworthy that the Jeddah Islamic Sea Port is one of the most important ports in Saudi Arabia, through which goods crossed into the Kingdom at a value of SR55,3 billion of imports, corresponding to 28.7% of the total, in Q4 2022, GASTAT said.
