Exports to China accounted for 16.6 percent of total exports, making it the top destination for Saudi Arabia’s exports.
Saudi Arabia’s non-oil exports saw an annual increase of 12.4 percent in April 2024, while imports fell by 1.3 percent. National non-oil exports increased by 1.6 percent while the value of re-exported goods increased by 56.4 percent in the same period.
The latest report from the General Authority for Statistics (GASTAT) also reveals that Saudi Arabia’s merchandise exports fell by 1 percent year-on-year in April 2024. Therefore, the share of oil exports in total exports fell from 80.6 percent in April 2023 to 78 percent in April. 2024.
From month to month, the value of goods exports decreased by 1.7 percent, while the value of non-oil exports decreased by 6.3 percent. Also, the value of imports decreased by 17.4 percent, while the surplus of the trade balance of goods increased by 36 percent.
China remains Saudi Arabia’s main trading partner
During April 2024, Saudi Arabia’s exports to China reached 16.6 percent of the Kingdom’s total exports. This makes China the main destination for Saudi Arabia’s exports. In second place came Japan with 9.2 percent of the total, then India with 8.1 percent. South Korea, the United Arab Emirates, the US, Poland, Bahrain, Malaysia and Singapore were among the top 10 countries for Saudi Arabia’s exports, accounting for 65.6 percent of total exports.
China also held the top spot for Saudi Arabia’s imports, accounting for 22.4 percent of total imports in April. In second place came the United States with 8.3 percent of the total imports, then India with 6.6 percent of the total. The United Arab Emirates, Germany, Switzerland, Italy, Japan, Vietnam and Egypt were also among the top 10 countries for Saudi Arabia’s imports, accounting for 62.2 percent of the total.
Top 5 customs ports
The top 5 ports that received imports from Saudi Arabia in April include:
- King Abdulaziz Seaport in Dammam: 29.7 percent of total imports
- Jeddah Islamic Seaport: 18.4 percent
- King Khalid Int Airport in Riyadh: 14.3 percent
- King Abdulaziz Int. Airport: 7.6 percent
- Dammam King Fahad Int Airport: 5.9 percent
The five ports together accounted for 76 percent of the Kingdom’s total merchandise imports.
Read: Egypt’s exports to the US grow by 34.5 percent in the first quarter of 2024
Main non-oil exports
Among the main non-oil exports in Saudi Arabia are plastics, tires and their products, which accounted for 26.2 percent of total non-oil exports, marking an increase of 20.5 percent compared to April 2023. Next came chemical products representing 25.7 percent of total non-oil exports, marking a decrease of 13.8 percent compared to April 2023.
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