Riyadh – Mubasher: Saudi Arabia’s overall merchandise exports hiked by 82.5% in November 2021 compared to the same month in 2020, according to official data by the General Authority for Statistics (GaStat) on Tuesday.

Non-oil and oil exports totalled SAR 107.3 billion last November, up from SAR 58.8 billion in the corresponding month in 2020.

The surge in the Kingdom’s exports was mainly attributed to a SAR 43.1 billion (112.8%) jump in oil exports in November 2021 compared to the same period a year earlier.

On a monthly basis, Saudi Arabia’s total merchandise exports increased by SAR 1.1 billion (1%) in November 2021, compared to October's figures.

Non-oil exports also grew by 26.1% to SAR 26 billion in November 2021, compared to SAR 20.6 billion in November 2020.

Non-oil exports soared by SAR 2.1 billion (9%) month-on-month (MoM) in November 2021, according to GaStat.

The ratio of non-oil exports to imports increased to 52.6% in November 2021, from 42.3% a year earlier.

Meanwhile, Saudi Arabia’s merchandise imports rose by SAR 684 million (1.4%) to SAR 49.39 billion in November 2021, compared to SAR 48.71 billion a year earlier.

On a monthly basis, the imports increased by SAR 2.57 billion (5.5%), compared to October's figures.

The country recorded a trade balance surplus of SAR 57.89 billion in November 2021, up 473.77% from SAR 10.09 billion in November 2020.

The value of the Kingdom's foreign trade, exports and imports, grew by 45.7% year-on-year (YoY) to SAR 156.69 billion in November 2021, compared to SAR 107.52 billion.