Saudi merchandise imports down to SAR 60.4B in December 2023

Jeddah Islamic Port

Saudi Arabia’s merchandise imports fell in December 2023 by 7% year-on-year (YoY) to almost SAR 60.4 billion, according to data issued by the General Authority for Statistics (GASTAT).

Accordingly, merchandise imports saw its first decline in nearly three years, almost since February 2021.

For more details on merchandise imports from Argaam Tools

Meanwhile, merchandise imports declined 10%, or by nearly SAR 6.8 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	11%
November	64.75	67.15	2.40	4%
December	64.94	60.35	(4.59)	(7%)

*Data is updated periodically.

Total Merchandise Imports (SAR bln)

Source: Argaam Tools

Imports of machinery and mechanical appliances, electrical equipment, and their parts came on top in December, representing 21.5%, or SAR 13 billion, of the total Saudi imports.

Vehicles, aircraft, vessels, and associated transport equipment came second at 20%.

The table below shows details of Saudi imports in December by segment:

Saudi Imports Value in December (SAR bln)
Segment	December 2022	December 2023	Value	Change
Machinery and Mechanical Appliances; Electrical Equipment; Parts Thereof	14.24	13.00	(1.24)	(9.0%)
Vehicles, Aircraft, Vessels, and Associated Transport Equipment	10.71	12.08	+1.37	+13%
Base Metals and Articles of Base Metal	6.31	5.40	(0.91)	(14%)
Products of the Chemical or Allied Industries	5.64	4.82	(0.82)	(15%)
Mineral Products	3.22	4.62	+1.41	+44%
Prepared Foodstuffs; Beverages, Spirits and Vinegar; Tobacco and Manufactured Tobacco Substitutes	3.66	2.64	(1.01)	(28%)
Vegetable Products	4.66	2.58	(2.09)	(45%)
Natural or Cultured Pearls, Precious or Semi-Precious Stones and Others	2.10	2.22	+0.11	+5%
Live animals and animal products	1.96	2.06	+0.10	+5%
Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; clocks and watches; musical instruments; parts and accessories thereof	1.76	2.02	+0.26	+15%
Others	10.68	8.91	(1.77)	(17%)
Total	64.94	60.35	(4.58)	(7%)

Saudi Arabia’s imports came mainly from China in December, at SAR 12.7 billion or 21% of the total.

The US and the UAE followed with SAR 4.9 billion and SAR 4.7 billion, respectively.

The top 10 exporters to Saudi Arabia accounted for almost 63%, or SAR 37.9 billion, of the total imports in December, as shown below:

Top 10 Exporters to Saudi Arabia in December 2023 (SAR bln)
Country	Value	% of imports
China	12.70	21.0%
US	4.89	8.1%
UAE	4.69	7.8%
India	3.31	5.5%
Japan	2.75	4.6%
Germany	2.56	4.2%
Egypt	2.07	3.4%
Italy	1.78	2.9%
United Kingdom	1.62	2.7%
Switzerland	1.53	2.5%
Other Countries	22.45	37.2%
Total	60.35	100.0%

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