Saudi Gazette report

RIYADH — Saudi Arabia’s non-oil exports increased by 23.1 percent year-on-year in Q1 2021, to reach SR59.9 billion (nearly $16 billion) from SR48.7 billion in Q1 2020, according to the General Authority for Statistics (GASTAT).

The share of non-oil exports in total exports increased from 25.4 percent (Q1 2020) to 28.2 percent (Q1 2021).

Meanwhile, Saudi Arabia increased by 10.8 percent in Q1 2021 compared to Q1 2020. The value of exports amounted to SR212.4 billion in Q1 2020, SR20.7 billion higher than in Q1 2021. This increase originated mainly from oil exports, which rose by SR9.5 billion (6.6 percent) in the same period.

The share of oil exports in total exports decreased from 74.6 percent (Q1 2020) to 71.8 percent (Q1 2021). Compared to the previous quarter (Q4 2020), total merchandise exports increased by SR32.4 billion (+18 percent).

Meanwhile, imports to the Kingdom increased 4 percent to SR137.7 billion, giving a trade surplus of 74.7 billion, the third consecutive quarter of surplus.

In Q1 2021, exports to China amounted to SR38.9 billion, making the Asian country the main destination for exports of Saudi Arabia.

Japan and India followed next with SR22.4 billion and SR19.4 billion, respectively.

South Korea, the United Arab Emirates, were the other countries that ranked in the top 5 destinations. Exports of Saudi Arabia to those 5 countries amounted to SR110.2 billion, accounting for 51.9 percent of the total exports.

Imports from China amounted to SR28.5 billion in Q1 2021. The United States and the UAE, followed next with imports of SR15.9 billion and SR12.4 billion, respectively.

India, Germany, were the other countries that ranked in the top 5 countries for imports. Imports of Saudi Arabia from those 5 countries amounted to SR70.9 billion, accounting for 51.5 percent of the total imports.

As many as SR39.7 billion of imports (28.9 percent of total imports) entered the Kingdom from Jeddah Islamic Sea Port in Q1 2021.

Among the other major ports of entry for the imports were King Abdulaziz Port (18.3 percent), King Khalid International Airport (12.8 percent), Bat'ha (7.0 percent), and King Fahad Airport (6.9 percent). Those five ports together accounted for 73.8 percent of the total merchandise imports of the Kingdom.