Saudi Arabia's Exports Reach $10 Billion in December 2018

Published February 27th, 2019 - 09:23 GMT
Saudi Arabia said its total merchandise exports increased by 12.5 percent in December 2018 year-on-year to reach $10 billion. (Shutterstock)
Saudi Arabia said its total merchandise exports increased by 12.5 percent in December 2018 year-on-year to reach $10 billion. (Shutterstock)

Saudi Arabia said its total merchandise exports increased by 12.5 percent in December 2018 year-on-year to reach $10 billion (SR86 million) while non-oil exports increased by 11.8 percent during the same period.

Saudi General Authority for Statistics explained that the total merchandise exports has amounted to $91 billion (SR29 million) in December 2018 compared to $80 billion (SR943 million) in December 2017.

Merchandise exports in December 2018 were, however, lower than those in the preceding month (November 2018) by three billion dollars (SR193 million) or 3.4 percent.

Saudi oil exports also increased by 12.7 percent and was valued at $69 billion (SR974 million) in December 2018 compared to $62 billion (SR110 million) in December 2017, corresponding to an increase of seven billion dollars (SR865 million).

Read More

IEA: Saudi Arabia Remains the Largest Global Oil Exporter
Saudi Investments in Egypt Reaches $54 Billion

Compared to the previous month (November 2018), the value of oil exports decreased by three billion dollars (SR690 million) or five percent in December 2018.

The share of oil exports in total merchandise exports also increased from 76.7 percent in December 2017 to 76.9 percent in December 2018.

The share of non-oil exports in total merchandise exports, however, decreased from 23.3 percent in December 2017 to 23.1 percent in December 2018.

Compared to the previous month (November 2018), the value of non-oil exports increased by SR497 million or 2.4 percent in December 2018.

Saudi Arabia exported the most to China last December with SR3.58 billion riyals ($955 million), followed by the UAE with SR2.8 billion riyals ($746 million) and Singapore with SR1.52 billion ($405 million).

Saudi Arabia recorded an increase of 19.4 percent year-on-year in merchandise exports, up SR15.66 billion ($4.17 billion) in November 2018.


Copyright © Saudi Research and Publishing Co. All rights reserved.

You may also like