Riyadh – Mubasher: Saudi Arabia's merchandise exports hiked by 90% to SAR 106.2 billion in October 2021, compared to SAR 55.9 billion in October 2020, as shown by the latest data published by the General Authority for Statistics (GaStat).
Higher exports are driven by a 123.1% year-on-year (YoY) increase in oil exports in October 2021, accounting for 77.6% of the total exports.
Meanwhile, the non-oil exports jumped by 25.5% to SAR 23.8 billion in October from SAR 19 billion in the year-ago period.
China led the countries importing from Saudi Arabia with SAR 19.1 billion, followed by Japan and South Korea with SAR 11.4 billion and SAR 10.5 billion, respectively.
India, the UAE, the US, Egypt, Taiwan, Bahrain, and Singapore were the other countries that ranked in the top ten destinations for the Kingdom's exports.
The top ten destinations for Saudi Arabia's exports have accounted for 70.6% of total exports with a value of SAR 75 billion.
In the meantime, Saudi Arabia also recorded a 7.6% rise in merchandise imports to SAR 46.3 billion in October 2021, compared to SAR 43 billion in October 2020.
