Saudi oil exports rise 123% to 110 billion riyals in April

Saudi oil exports rise 123% to 110 billion riyals in April

Saudi merchandise exports increased by 98% in April 2022, to reach about 137.1 billion riyals, compared to By about 69.3 billion riyals in April 2021.

The General Authority for Statistics said in a report, today, Thursday, that this is as a result of an increase in petroleum exports by 60.5 billion riyals, by 123% in April 2022, to reach To about 109.75 billion riyals, compared to 49.21 billion riyals in April 2021.

The proportion of oil exports from the total total exports increased from 71.1% in April 2021 to 80% in April 2022.

Non-oil exports, including re-exports, increased by 36.6% in April 2022, to reach 27.4 billion riyals, compared to 20 billion riyals in April 2021.

On a quarterly basis, the value of merchandise exports decreased by 3.4% compared to about 141.93 billion riyals in March 2022, while petroleum exports decreased by 2.9% in April 2022, compared to 113.04 billion riyals in March 2022, Petroleum exports decreased by 5.3%, compared to about 24.73 billion riyals in March 2022. Chemical and related commodities are among the most important non-oil exports, which constituted 36.6% of the total non-oil exports, and increased by 67.5% by 4 billion riyals, then plastics and rubber and their products 27.8% of the total non-oil exports, which rose by 15.9% from April 2021.

Imports increased by 11.2% to 55.3 billion riyals in April 2022, compared to 49.7 billion riyals in April 2021. The ratio of non-oil exports to imports rose to 49.5% in April 2022 compared to 40.3% in April 2021, as a result of the significant increase in non-oil exports by 36.6%, compared to the 11.2% increase in imports during this period. The trade surplus amounted to about 81.85 billion riyals in April 2022, compared to about 19.55 billion riyals in April 2021, an increase of 319%.