Riyadh - Mubasher: Saudi merchandise exports fell by 58.6% year-on-year (YoY) in April 2020 to stand at SAR 37.11 billion, according to data by the Saudi General Authority for Statistics (GaStat).

The drop is primarily due to lower oil exports by 65.4%, with their share in total exports decreasing to 64.7% last April from 77.4% in April 2019.

On a monthly basis, merchandise exports slumped by 23.5% when compared to March 2020

Moreover, non-oil exports shrank by 35.2% on an annual basis last April, reaching SAR 13.11 billion.

The authority also reported that the trade of plastics and rubbers went down by 26.8% YoY in April 2020, while chemical products slipped by 38.3% YoY.

Additionally, merchandise imports came at SAR 38.08 billion during April, down by 28.4% annually. This was driven by the decrease in many sections most notably, vehicles and associated transport equipment by 31.5%, and machinery and mechanical appliances; electrical equipment by 30%.  

China was the kingdom’s main trading partner for merchandise trade, as exports to the Asian country totalled SAR 7.15 billion, followed by India and Japan with SAR 3.13 billion and SAR 2.72 billion, respectively.