Saudi Exports to 70 Countries Increased by 100% in a Year

by Eddie Rayner أغسطس 28, 2021

Compared to the same period in 2020, Saudi Arabia’s exports to 70 countries worldwide increased by 100% in June 2021.

According to statistics released by the General Authority for Statistics (GASTAT), international trade increased by 99.4% in the second quarter of 2021, reaching SR238.6 billion, up from SR119.7 billion in the second quarter of 2020, when international trade was hampered by the lockdown and travel ban caused by the Covid-19 pandemic.

Growth was due to an SR96.5 billion increase in petroleum exports (126.1%). As a percentage of overall exports, Petroleum shipments increased to 72.5% in the second quarter of 2021, up from 63.9% in the second quarter of 2020.

The GASTAT data showed that Saudi Arabia recorded a trade surplus of about SR97.68 billion in the second quarter of 2021

The GASTAT data showed that Saudi Arabia recorded a trade surplus of about SR97.68 billion in the second quarter of 2021. According to the figures, the value of merchandise exports climbed by SR26.1 billion (12.3%) over the period compared to the first quarter of this year. Merchandise exports rose in June this year by 91.8%, reaching SR84.7 billion against SR44.2 billion in June 2020.

Non-oil exports recorded an increase of 52.1%, reaching SR65.7 billion compared to SR43.2 billion in the second quarter of 2020. Plastics, rubber, and related products were the most important commodities, accounting for 34.3% of total non-oil exports, up 63.9% to SR8.8 billion.

China topped the leading destinations for Saudi exports, with a value of SR 46.4 billion

China topped the leading destinations for Saudi exports, with a value of SR 46.4 billion, representing 19.4% of the total exports in the second quarter of the current year, followed by India and Japan, with a value of SR21.7 billion (9.1%) and SR20.7 billion (8.7%) respectively.

Among the top ten nations to which exports were made were South Korea, the United States of America, the United Arab Emirates, Egypt, the Netherlands, Singapore, and Taiwan, with total exports to these ten countries totaling SR160.3 billion, accounting for 67.2% of overall exports.