Saudi Arabia’s Non-Oil Exports Amount to $4.5Bn in April

Monday, 17 June, 2019 - 13:00 -

Saudi Arabia’s Non-Oil Exports Amount to $4.5Bn in April

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Riyadh- Asharq Al-Awsat
Saudi oil exports rose by 0.8 percent in April 2018 compared with April 2018, according to the Kingdom’s General Authority for Statistics (GaStat).

Saudi oil exports were valued at SR69.337 billion in April 2019 compared to SR68.777 billion in April 2018, corresponding to an increase of SR560 million.

Value of non-oil exports, however, dropped 15.5 percent year-on-year (YoY) to SR17.631billion ($4.5 billion) in April 2019, compared to SR20.874 billion ($5.3 billion) in April 2018, a decrease of SR3.243 billion ($850 billion).

Non-oil exports from total exports also dropped from 23.3 percent in April 2018 to 20.3 percent in April 2019. They also dropped by SR2.346 billion or 11.7 percent compared with March.

The share of oil exports in total merchandise exports also increased from 76.7 percent in April 2018 to 79.7 percent in April 2019.

Compared to March 2019, the value of oil exports increased by SR3.189 billion or 4.8 percent in April 2019.

The Kingdom’s total merchandise exports stood at SR86.96 billion during April 2019 compared to SR89.65 billion in the same month of 2018, representing a three percent drop or SR2.68 billion.

Meanwhile, exports in April were one percent higher than those registered in March 2019, a month-on-month increase of SR843 million.

The UAE is considered the main destination for re-exports, accounting for 33.3 percent of the total re-export value for April 2019, followed by China with 7.9 percent.

The value of re-exports was SR2.589 billion in April, compared to SR3.612 billion during the same month last year.

Multimedia