Saudi Arabia’s Oil Exports Value Rose 11.8% in Nov 2022

Saudi Arabia’s oil export value rose by 11.8 percent in November 2022. New data released by the General Authority for Statistics (GASTAT) said Saudi Arabia’s oil export value rose nearly 12 percent to $2.53 billion for November 2022 compared to the same month in 2021.

GASTAT said in its report that Saudi Arabia’s overall merchandise exports increased 3.6 percent year-on-year in November 2022. It means the total value of overall merchandise exports in November 2022 totaled $3.4 billion. 

“The share of oil exports in total exports increased from 74.0 percent in November 2021 to 79.8 percent in November 2022,” said GASTAT in the report. 

Saudi Arabia’s non-oil exports including re-exports decreased by 19.7 percent in November 2022, compared to the same month in 2021. 

The GASTAT report said that the most imported merchandise in November were machinery, mechanical appliances, and electrical equipment parts, which accounted for 20.4 percent of total merchandise imports.

The General Authority for Statistics is a Saudi governmental entity that publishes the only official statistical reference for statistical data and information in Saudi Arabia. 

The top country that Saudi Arabia exported to was to China, totaling 18.3 percent of the total export. The second country most exported to was Japan, and the third was India. South Korea, the U.S., the UAE, Egypt, the Netherlands, Poland, and Bahrain were the other countries included in the top 10 list for Saudi Arabia’s exports. 

China was also the top import country for Saudi Arabia, totaling 23 percent of the total during the period. 

The second most imported country was the U.S., making up 9.8 percent of Saudi imports. 

Saudi Arabia’s primary export is oil. In terms of non-oil exports, industrial products make up more than 90 percent. Saudi Arabia exports petrochemicals, plastics, metal goods, construction materials, and electrical appliances to some 90 countries.

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