Saudi Arabia’s trade volume in October increased about 7 percent to SR178 billion ($47.45 billion) compared to SR167 billion in September, according to government data.
The General Authority of Statistics reported that total merchandise exports in October saw a slight increase of SR15 million or 0.01 percent compared to the previous month.
However, the overall merchandise exports in October declined by 17.4 percent to SR104.3 billion compared to SR126.2 billion in the same month last year.
“This decrease originated mainly from oil exports, which fell by SR18.4 billion or 18.3 percent in the same period,” the GASTAT report stated.
Moreover, the share of oil in total exports decreased to 78.9 percent in October from 79.7 percent in the same month last year.
Similarly, non-oil exports, including re-exports, decreased by 13.9 percent to SR22 billion in October from SR25.6 billion in the year-ago period. —AN
