Saudi oil exports rose 11.8% to 90 billion riyals in November

Saudi oil exports rose 11.8% to 90 billion riyals in November
Saudi oil exports rose 11.8% to 90 billion riyals in November
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Data from the General Authority for Statistics in Saudi Arabia showed that commodity exports increased last November by 3.6% to reach 112.8 billion riyals, compared to about 108.8 billion riyals in the same month of 2021.

The Statistics Authority stated that the increase came as a result of an increase in oil exports by about 9.5 billion riyals, by 11.8%, to reach about 90 billion riyals, compared to about 80.5 billion riyals in November 2021.

The percentage of Saudi petroleum exports out of total exports increased from 74% in November 2021 to 79.8% in November 2022.

Saudi non-oil exports (including re-exports) decreased by 19.7% to 22.7 billion riyals in November 2022, compared to 28.3 billion riyals in November 2021.

According to the authority’s data, imports increased by 26.5% in November 2022 to about 62.7 billion riyals, compared to 49.6 billion riyals in November 2021.

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The trade balance surplus amounted to 50 billion riyals in November 2022, compared to about 59 billion riyals in November 2021, a decline of 15.25%.

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On a monthly basis, commodity exports (oil and non-oil) decreased by 7.1%, equivalent to 8.6 billion riyals, compared to October 2022, while the value of imports decreased by 5.1%, equivalent to 3.4 billion riyals, compared to October 2022.

The foreign trade data for Saudi Arabia in November came as follows:

Foreign trade in November 2022

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