GASTAT Reports 13.1% Growth in Non-Oil Exports for 2024
The General Authority for Statistics (GASTAT) has released its 2024 International Trade Statistics Bulletin, revealing a 13.1% year-on-year increase in non-oil exports, including re-exports. Despite this growth, total merchandise exports fell by 4.5% compared to 2023, while imports climbed by 12.5%.
The bulletin highlighted an improvement in the ratio of non-oil exports to imports, rising slightly to 35.3% in 2024 from 35.1% the previous year. At the same time, the proportion of oil exports in total exports declined from 77.3% in 2023 to 73.1% in 2024.
Among non-oil exports, products from the chemical industry dominated, making up 25.5% of the total. On the import side, machinery, electrical equipment, and parts were the leading category, accounting for 25.3% of imports.
China remained Saudi Arabia's largest trading partner, receiving 15.2% of the Kingdom's total exports and supplying 23.9% of its imports in 2024
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Saudi Arabia's Non-Oil Exports Hike 19% in July: GASTAT
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