Saudi merchandise imports fall to SAR 66.7B in January 2024

Jeddah Islamic Port

Saudi Arabia’s merchandise imports dropped in January 2024 by 1% year-on-year (YoY) to almost SAR 66.7 billion, according to data issued by the General Authority for Statistics (GASTAT).

For more details on merchandise imports from Argaam Tools

Meanwhile, merchandise imports declined 11%, or by nearly SAR 6.4 billion, month-on-month (MoM), as follows:

Saudi Merchandise Imports (SAR bln)*
Month	2023	2024	Value	YoY Change (%)
January	67.69	66.71	(0.97)	(1%)
February	57.31	--	--	--
March	69.04	--	--	--
April	58.31	--	--	--
May	69.54	--	--	--
June	64.77	--	--	--
July	70.20	--	--	--
August	70.18	--	--	--
September	62.91	--	--	--
October	73.90	--	--	--
November	67.15	--	--	--
December	60.35	--	--	--

*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 January, representing 22%, or SAR 14.7 billion, of the total Saudi imports.

Vehicles, aircraft, vessels, and associated transport equipment came second at 14%.

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

Saudi Imports Value in January (SAR bln)
Segment	January 2023	January 2024	Value	Change
Machinery and Mechanical Appliances; Electrical Equipment; Parts Thereof	14.84	14.68	(0.16)	(1%)
Vehicles, Aircraft, Vessels, and Associated Transport Equipment	9.82	9.05	(0.77)	(8%)
Base Metals and Articles of Base Metal	5.50	6.19	+0.69	+13%
Products of the Chemical or Allied Industries	6.04	6.18	+0.14	+2%
Mineral Products	5.32	5.49	+0.17	+3%
Natural or Cultured Pearls, Precious or Semi-Precious Stones and Others	1.53	3.93	+2.40	+157%
Prepared Foodstuffs; Beverages, Spirits and Vinegar; Tobacco and Manufactured Tobacco Substitutes	3.31	3.33	+0.02	+1%
Vegetable Products	3.83	3.21	(0.62)	(16%)
Live animals and animal products	2.12	2.34	+0.22	+10%
Textiles and Textile Articles	2.22	2.05	(0.17)	(8%)
Others	13.15	10.27	(2.88)	(22%)
Total	67.69	66.71	(0.97)	(1%)

Saudi Arabia’s imports came mainly from China in January, at SAR 13.6 billion or 20% of the total.

The US and the UAE followed with SAR 5.2 billion and SAR 4.5 billion, respectively.

The top 10 exporters to Saudi Arabia accounted for almost 64%, or SAR 42.6 billion, of the total imports in January, as shown below:

Top 10 Exporters to Saudi Arabia in January 2024 (SAR bln)
Country	Value	% of imports
China	13.61	20.4%
US	5.18	7.8%
UAE	4.46	6.7%
India	4.45	6.7%
Switzerland	2.89	4.3%
Japan	2.74	4.1%
Egypt	2.64	3.9%
South Korea	2.36	3.5%
Germany	2.28	3.4%
Italy	2.01	3.0%
Other Countries	24.11	36.1%
Total	66.71	100.0%

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