RIYADH: Saudi Arabia’s oil export value for December 2022 climbed 11.1 percent year-on-year to SR85.5 billion ($22.80 billion), according to the latest data released by the General Authority for Statistics.
The GASTAT data suggested that the share of oil exports in total exports increased from 71.9 percent in December 2021 to 79 percent in December 2022.
The report further noted that the Kingdom’s overall merchandise exports rose by 1.1 percent in December 2022, compared to the same month in 2021.
The value of exports amounted to SR108.2 billion in December 2022, up from SR107 billion in December 2021.
Saudi Arabia’s total merchandise exports, however, decreased by SR4.6 billion or 4.0 percent in December, compared to November 2022, the report noted.
The GASTAT report further added that Saudi Arabia’s non-oil exports including re-exports decreased by 24.4 percent to SR22.7 billion in December 2022, from SR30.1 billion in the same period in 2021.
Compared to November 2022, non-oil exports including re-exports decreased by SR40 million or 0.2 percent in December 2022.
According to the report, Saudi Arabia’s merchandise imports increased by 16.9 percent to SR62.2 billion in December 2022, compared to SR53.2 during the same period a year ago.
Merchandise imports, however, decreased month-on-month in December 2022 by SR2.4 billion or 3.7 percent.
The GASTAT report revealed that the most imported merchandise in December 2022 were machinery, mechanical appliances, and electrical equipment parts, which accounted for 22.6 percent of total merchandise imports.
In December 2022, exports to China amounted to SR16.2 billion or 15 percent of total export, making the Asian giant the main destination for exports from Saudi Arabia.
China was closely followed by Japan and India with SR12.6 billion and SR11.3 billion of the total exports, respectively.
As for Saudi imports, China also took the lead with its imports amounting to 21 percent of the total during that period reaching SR13.7 billion, followed by the US and the UAE with imports valued at SR6.4 billion and SR4.4 billion respectively.
The report further revealed that the Jeddah Islamic Sea Port topped the list of ports through which goods reached the Kingdom in December 2022 at a value of SR18.2 billion, corresponding to 29.2 percent of the total imports.