Saudi Arabia's non-oil exports, including re-exportation, jumped 16.6%, or $1.01 billion (SAR 3.8 billion), to $7.13 billion (SAR 26.8 billion) in the 12 months that ended August 31, driven by solid gains in output and new orders, according to the General Authority for Statistics. Non-oil imports hit a 20% increase, or $2.71 billion (SAR 10.2 billion), reaching $16.23 billion (SAR 61 billion).
Despite rising from August last year, non-oil merchandise exports edged lower by 1.2%, or $79.84 million (SAR 300 million), in August this year from the previous month. Imports in August, however, rose 6.6% or $1.01 billion (SAR 3.8 billion) from July this year.
Merchandise exports hiked 49.1% to $35.58 billion (SAR 133.7 billion) in August from the same month last year, underpinned by the whopping increase of 60.2%, or $10.7 billion (SAR 40.2 billion), in oil exports.
Oil exports comprised 79.9% of the kingdom's total exports in August, up 5.5 percentage points from August last year, while non-oil exports comprised 5.3% less of total exports from the previous month.
Chemical product exports are the most vital element in Saudi's non-oil exports, as they comprised 35.5% of all its non-oil exports in August while climbing 24.1%, or $480 million (SAR 1.8 billion), from a year earlier. Plastics and rubber products constituted 29.3% of non-oil exports in August, decreasing by 6% from a year earlier.
Machinery, coupled with mechanical and electrical appliances, comprised 19.6% of all merchandise imported in August, while transport equipment accounted for 11.1%.
Trading partners China is the largest importer of Saudi merchandise, receiving $6.25 billion (SAR 23.5 billion) of Saudi exports in August this year. Japan and India came next with 9.9% and 8.9% of total Saudi exports, respectively. South Korea, USA, the UAE, Malaysia, France, Taiwan, and Egypt ranked in the top 10 destinations for Saudi exports, amounting to 64.1%, or $22.8 billion (SAR 85.7 billion), of total Saudi exports.
The East Asian behemoth also came on top as the primary origin for Saudi imports, comprising 21.4%, or $3.46 billion (SAR 13 billion), of total imports in August. USA and the UAE followed next with 7.5% and 6.4% of total imports, respectively. India, Germany, Japan, Egypt, South Korea, Brazil, and Italy ranked in the top 10 countries for Saudi imports, with 61.5%, or $9.98 billion (SAR 37.5 billion), of total imports.
