The General Authority for Statistics (GASTAT) revealed today that the Kingdom of Saudi Arabia's non-oil exports (including re-exports) increased by 29.4% year-on-year in Q1 2022, rising to SAR 77.8 billion from SAR 60.1 billion in Q1 2021. The non-oil exports decreased compared to the previous quarter (Q4 2021) by SAR 4.4 billion or 5.4%. This came in GASTAT's International Trade reports on the First Quarter and March 2022. The non-oil exports (including re-exports) increased by 25.4% year-on-year in March 2022, rising to SAR 28.2 billion from SAR 22.5 billion in March 2021. The ratio of non-oil exports to imports increased to 49.6% in Q1 2022 from 43.1% in Q1 2021 as a result of a higher increase in non-oil exports (29.4%) than in imports (12.5%) over that period. Merchandise imports increased by SAR 12.5% (17.4 billion) in Q1 2022. The value of imports amounted to SAR 156.8 billion in Q1 2022 compared to SAR 139.4 billion in Q1 2021. Imports also increased compared to the previous quarter (Q4 2021), by SAR 8.2 billion or 5.5%. The oil exports in March rose by SAR 62.9 billion or 123.0%. According to the report, the overall merchandise exports increased by 93.2% in March 2022 compared to March 2021. The value of exports amounted to SAR 142.2 billion in March 2022, up from SAR 73.6 billion in March 2021. The value of imports amounted to SAR 55.2 billion in March 2022 compared to SAR 50.3 billion in March 2021.
