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Saudi merchandise imports up 12% to SAR 73.9B in October
Jeddah Islamic Port
Saudi Arabia’s merchandise imports rose in October by 12% year-on-year (YoY) to almost SAR 73.9 billion, the highest level in years, according to data issued by the General Authority for Statistics (GASTAT).
Merchandise imports also increased by 17%, or nearly SAR 11 billion, month-on-month (MoM), as follows:
|
Saudi Merchandise Imports (SAR bln)* |
||||
|
Month |
2022 |
2023 |
Value |
YoY Change (%) |
|
January |
52.35 |
67.69 |
15.34 |
29% |
|
February |
49.27 |
57.31 |
8.05 |
16% |
|
March |
56.29 |
69.04 |
12.75 |
23% |
|
April |
57.32 |
58.31 |
0.99 |
2% |
|
May |
55.96 |
69.54 |
13.58 |
24% |
|
June |
62.07 |
64.77 |
2.70 |
4% |
|
July |
57.56 |
70.20 |
12.64 |
22% |
|
August |
63.80 |
70.18 |
6.38 |
10% |
|
September |
61.46 |
62.91 |
1.45 |
2% |
|
October |
66.28 |
73.90 |
7.62 |
12% |
|
November |
64.75 |
-- |
-- |
-- |
|
December |
64.94 |
-- |
-- |
-- |
Imports of machinery and mechanical appliances, electrical equipment, and parts thereof came on top in October, representing 22%, or SAR 16.5 billion, of the total Saudi imports.
Vehicles, aircraft, vessels, and associated transport equipment came in second with 19% of the total Saudi imports.
The table below shows details of Saudi imports in October by segment:
|
Saudi Imports Value in October (SAR bln) |
||||
|
Segment |
October 2022 |
October 2023 |
Value |
Change |
|
Machinery and Mechanical Appliances; Electrical Equipment; Parts Thereof |
12,705.8 |
16,493.9 |
+3,788.1 |
+30% |
|
Vehicles, Aircraft, Vessels, and Associated Transport Equipment |
11,093.6 |
14,358.6 |
+3,265.0 |
+29% |
|
Products of the Chemical or Allied Industries |
6,122.6 |
6,114.4 |
(8.2) |
(0.1%) |
|
Mineral Products |
5,223.7 |
5,941.8 |
+718.1 |
+14% |
|
Base Metals and Articles of Base Metal |
5,956.1 |
5,889.4 |
(66.7) |
(1%) |
|
Natural or Cultured Pearls, Precious or Semi-Precious Stones and Others |
3,081.9 |
4,091.4 |
+1,009.6 |
+33% |
|
Prepared Foodstuffs; Beverages, Spirits and Vinegar; Tobacco and Manufactured Tobacco Substitutes |
2,861.7 |
2,867.3 |
+5.5 |
+0.2% |
|
Vegetable Products |
4,238.8 |
2,750.5 |
(1,488.3) |
(35%) |
|
Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; clocks and watches; musical instruments; parts and accessories thereof |
1,899.4 |
2,234.8 |
+335.4 |
+18% |
|
Plastics and Articles Thereof; Rubber and Articles Thereof |
2,441.6 |
2,209.4 |
(232.2) |
(10%) |
|
Others |
10,650.0 |
10,952.8 |
+302.8 |
+3% |
|
Total |
66,275.2 |
73,904.4 |
+7,629.2 |
+12% |
China topped the Kingdom's list of importers with approximately SAR 14.9 billion, accounting for 20% of the total in October.
The US and the UAE followed with SAR 8.82 billion and SAR 5.11 billion imports, respectively.
The top 10 exporters to Saudi Arabia accounted for almost 64%, or SAR 47.1 billion, of the total imports in October, as shown below:
|
Top 10 Exporters to Saudi Arabia in October (SAR bln) |
||
|
Country |
Value |
% of imports |
|
China |
14.87 |
20.1% |
|
US |
8.82 |
11.9% |
|
UAE |
5.11 |
6.9% |
|
India |
4.02 |
5.4% |
|
Switzerland |
3.13 |
4.2% |
|
Germany |
2.89 |
3.9% |
|
Japan |
2.71 |
3.7% |
|
Holland |
1.87 |
2.5% |
|
Singapore |
1.85 |
2.5% |
|
Egypt |
1.84 |
2.5% |
|
Other Countries |
26.79 |
36.3% |
|
Total |
73.90 |
100.0% |
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