Oil tankers
The value of Saudi Arabia’s oil exports decreased by 33% year-on-year (YoY) to nearly SAR 277.7 billion in Q2 2023.
Growth in petroleum exports (%) - All
Q2 2023 oil exports accounted for 78.1% of the total SAR 291.6 billion merchandise exports.
On a month-on-month basis, oil exports fell by 8%, or about SAR 23.8 billion.
The table below highlights Saudi Arabia’s oil exports since Q1 2017:
|
Value of Saudi Oil Exports* |
|||
|
Period |
Value (SAR bln) |
YoY Change |
Percentage of Total Exports |
|
Q1 2017 |
161.87 |
+66.6% |
78.1% |
|
Q2 |
144.37 |
+10.8% |
76.1% |
|
Q3 |
149.41 |
+12.0% |
76.1% |
|
Q4 |
182.75 |
+21.9% |
76.6% |
|
Q1 2018 |
187.65 |
+15.9% |
76.8% |
|
Q2 |
220.34 |
+52.6% |
78.4% |
|
Q3 |
230.94 |
+54.6% |
80.1% |
|
Q4 |
229.52 |
+25.6% |
79.1% |
|
Q1 2019 |
189.85 |
+1.2% |
76.2% |
|
Q2 |
195.82 |
(11.1%) |
77.5% |
|
Q3 |
180.01 |
(22.1%) |
76.3% |
|
Q4 |
186.15 |
(18.9%) |
76.5% |
|
Q1 2020 |
143.01 |
(24.7%) |
74.6% |
|
Q2 |
76.49 |
(60.9%) |
63.9% |
|
Q3 |
106.56 |
(40.8%) |
66.4% |
|
Q4 |
121.53 |
(34.7%) |
67.5% |
|
Q1 2021 |
147.89 |
+3.4% |
71.1% |
|
Q2 |
166.41 |
+117.6% |
71.7% |
|
Q3 |
204.20 |
+91.6% |
74.6% |
|
Q4 |
239.63 |
+97.2% |
74.4% |
|
Q1 2022 |
288.52 |
+95.1% |
78.6% |
|
Q2 |
341.62 |
+105.3% |
79.9% |
|
Q3 |
320.12 |
+56.8% |
80.2% |
|
Q4 |
276.03 |
+15.2% |
79.3% |
|
Q1 2023 |
245.78 |
(14.8%) |
77.9% |
|
Q2 |
227.67 |
(33.4%) |
78.1% |
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