Riyadh: According to the most recent information made available by the General Authority for Statistics, the value of Saudi Arabia's oil exports increased by 11.8 percent to SR9.5 billion ($2.53 billion) in November 2022 compared to the same month in 2021.
In its report, GASTAT noted that in November 2022, the Kingdom's total exports of goods increased 3.6% year over year.
In comparison to the same month the year before, the total value of all exports of goods in November 2022 was SR12.8 billion, an increase.
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According to GASTAT, the percentage of oil exports in total exports increased from 74.0% in November 2021 to 79.8% in November 2022.
In comparison to the same month in 2021, the report states that Saudi Arabia's non-oil exports, including re-exports, fell by 19.7 percent to SR22.7 billion in November 2022.
The GASTAT report also noted that in November 2022, the Kingdom's non-oil exports, excluding re-exports, fell by 18% year over year.
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The report also stated that in November 2022, Saudi Arabia's total merchandise imports increased by 26.5 percent to SR62.7 billion.
According to the GASTAT report, machinery, mechanical appliances, and electrical equipment parts made up the majority of November's imports, or 20.4% of all imported goods.
The report also stated that in November 2022, Saudi Arabia's exports to China totaled SR20.6 billion, or 18.3 percent of all exports, making China Saudi Arabia's top export market.
With SR11.7 billion and SR10.3 billion of the total exports, Japan and India came in second and third, respectively, behind China.
The top 10 list for Saudi Arabia's exports also included South Korea, the US, the UAE, Egypt, the Netherlands, Poland, and Bahrain.
China was the top importer into Saudi Arabia during that time, accounting for 23 percent of all imports, or SR14.4 billion.
In November 2022, the US came in second with imports totaling SR6.2 billion, or 9.8% of Saudi imports. According to the report, the UAE ranked third with imports totaling SR3.3 billion, or 5.3 percent of the total.
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At SAR16.8 billion, or 26.8% of all imports, Jeddah Islamic Sea Port came in first place among the ports through which goods entered the Kingdom.