Riyadh: The General Authority for Statistics (GASTAT) has released its International Trade report for April 2024 on its official website today.
The report highlights a 12.4% increase in non-oil exports during April 2024 compared to April 2023. It notes that the value of national non-oil domestic exports (excluding re-exports) saw a 1.6% increase, while the value of re-exported goods surged by 56.4% in April 2024 compared to the same period in 2023. This reflects the Kingdom of Saudi Arabia’s significant role in international trade as a corridor for goods.
Plastics, rubber, and their products stand out as crucial non-oil export commodities, representing 26.2% of total non-oil exports and marking a 20.5% increase from April 2023. This underscores the attention given to the promising Saudi economy and its various sectors.
Furthermore, the report indicates an uptick in the ratio of non-oil exports (including re-exports) to imports in April 2024, reaching 37.1% compared to 32.6% in April 2023. This is attribute
d to the 12.4% increase in non-oil exports and a 1.3% decrease in imports during this period. The value of merchandise imports declined by 17.4%, while the trade balance in merchandise recorded a 36.0% increase compared to March 2024.
Source: Saudi Press Agency