Riyadh – Mubasher: Saudi Arabia’s overall merchandise exports rose by 87% in April this year, compared to the same month in 2020, according to official data.

The Kingdom has exported goods worth SAR 71.3 billion last April, up from SAR 38.1 billion in the same month in 2020.

Oil exports accounted for 72.5% of the total exports in April 2021, a share higher than 64.8% in the prior-year period.

On a monthly basis, total merchandise exports in Saudi Arabia decreased in April by 4.6% or SAR 3.5 billion, according to a report by the General Authority for Statistics (GaStat).

Non-oil exports grew by 46.3% in April this year to SAR 19.6 billion from SAR 13.4 billion in the same month in 2020. Meanwhile on a monthly basis, they decreased by SAR 2.8 billion or 12.6% from March.

Plastics, rubber, and articles thereof represented 33.5% of the non-oil exports and increased by 41.9% on an annual basis last April.

On the other hand, Saudi Arabia’s imports rose by 17.4% or SAR 7.3 billion riyals year-on-year (YoY) to SAR 49.1 billion in April 2021 from SAR 41.8 billion in the corresponding month in 2020.

Ratio of non-oil exports to imports soared 40.0% last April from 32.1% in the same month in 2020.

Trade Volume, Balance

The Kingdom’s trade volume stood at SAR 120.39 billion in April 2021, higher by 50.6% than SAR 79.92 billion in the same month last year.

The country has registered a trade balance surplus of SAR 22.22 billion last April, against a deficit of SAR 3.65 billion in the year-ago period.

China retained its position as Saudi Arabia’s main trading partner for merchandise trade in April, with exports standing at SAR 12.9 billion and imports totalling SAR 9.2 billion.

Last March, the overall merchandise exports from the Kingdom surged to SAR 74.7 billion.