Decline in Saudi Arabia’s export of goods announced

The value of goods exports to Saudi Arabia in the first quarter of 2023 was about 313.5 billion rials, compared to 367.1 billion rials in the first quarter of 2022.

This is stated in the Saudi Arabia International Trade Bulletin for the first quarter of 2023, published by the General Statistics Office of Saudi Arabia.

This means that these exports decreased by 53.6 billion rials, or by 14.6 percent.

According to the results of the bulletin, the value of oil exports in the first quarter of 2023 was 245.4 billion rials, compared to 288.5 billion rials in the first quarter of 2022, with a decrease of 43.1 billion rials, or 14.9 percent. the decline in oil exports had the biggest impact on the decline in commodity exports.

According to the results of the bulletin, the value of non-oil exports (including re-exports) in the first quarter of 2023 was about 68.1 billion rials, compared to 78.6 billion rials in the first quarter of 2022, down 10.5%. billion rials, or 13.3 percent.

While the value of imports in the first quarter of 2023 was approximately 186.4 billion rials, compared to 157.9 billion rials in the first quarter of 2022, an increase of 28.5 billion rials, or 18.0 percent.

Source: Economic

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