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Saudi oil exports rise 123% to SAR 110 billion in April

Saudi oil exports rise 123% to SAR 110 billion in April

The Saudi merchandise exports increased by 98% in April 2022, reaching about SAR 137.1 billion, compared to about SAR 69.3 billion in April 2021.

This is due to a growth in petroleum exports of SAR 60.5 billion, or 123 percent, to reach about SAR 109.75 billion in April 2022 from SAR 49.21 billion in April 2021, according to a report released by the General Authority for Statistics today, Thursday.

The percentage of petroleum exports out of the total exports increased from 71.1% in April 2021 to 80% in April 2022.

Non-oil exports, including re-exports, increased by 36.6% in April 2022, to reach SAR 27.4 billion, compared to SAR 20 billion in April.

Quarterly, the value of merchandise exports decreased by 3.4%, compared to about SAR 141.93 billion in March 2022,

while petroleum exports decreased by 2.9% in April 2022, compared to SAR 113.04 billion in March 2022, and petroleum exports decreased by 5.3% compared to SAR 24.73 billion in March 2022.

The products of the chemical industries and related industries are among the most important non-oil exports, and they constituted 36.6% of the total non-oil exports, and increased by 67.5%, to SAR 4 billion.

Imports rose by 11.2% to SAR 55.3 billion in April 2022, compared to SAR 49.7 billion in April 2021.

The ratio of non-oil exports to imports also increased to 49.5% in April 2022 compared to 40.3% in April 2021, as a result of the significant increase in non-oil exports by 36.6%, compared to the 11.2% increase in imports during this period.

The trade surplus amounted to about SAR 81.85 billion in April 2022, compared to about SAR 19.55 billion in April 2021, an increase of 319%.

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