GASTAT: Non-oil Exports Increase by 10.5% in Q2 2024

The General Authority for Statistics (GASTAT) issued today the International Trade Publication for Q2 of 2024. According to the publication, non-oil exports increased by 10.5% compared to Q2 2023, national non-oil exports, excluding re-exports, increased by 1.4%, and the value of re-exported goods increased by 39.1%. The value of non-oil exports, including re-exports, rose by 4.3%. Merchandise exports decreased by 0.2% compared to Q2 2023, and the value of imports fell by 5.6% due to a 3.3% decrease in oil exports. The share of oil exports in total exports fell to 75.0% from 77.4% in Q2 2023. Imports rose by 3.0%, and the surplus of the merchandise trade balance decreased by 6.0% compared to Q2 2023. The value of merchandise exports remained stable compared to Q1 2024. The value of imports decreased by 5.6%, and the surplus of the merchandise trade balance recorded an increase of 13.2%. GASTAT also issued the International Trade Publication for June 2024, which shows that non-oil exports, including re-exports, increased by 7.3% compared to June 2023. Merchandise exports decreased by 5.8% compared to June 2023 due to a 9.3% decrease in oil exports, and merchandise imports decreased by 5.1%. Source: Saudi Press Agency