Saudi merchandise imports rise to SAR 200B in Q3 2023

12/12/2023 Argaam Special
Jeddah Islamic Port

Jeddah Islamic Port


Saudi Arabia’s merchandise imports grew by 9% year-on-year (YoY) to almost SAR 200 billion in Q3 2023, according to data issued by the General Authority for Statistics (GASTAT).


On a quarterly basis, merchandise imports grew by 4%, or nearly SAR 7.3 billion.

 

Saudi Merchandise Imports

Period

Value (SAR bln)

Change YoY

Q1 2017

125.72

--

Q2

126.71

--

Q3

123.85

--

Q4

128.16

--

Q1 2018

126.06

+0.3%

Q2

133.02

+5%

Q3

128.02

+3%

Q4

126.90

(1%)

Q1 2019

132.19

+5%

Q2

151.82

+14%

Q3

145.45

+14%

Q4

144.90

+14%

Q1 2020

132.38

+0.1%

Q2

124.85

(18%)

Q3

123.03

(15%)

Q4

137.23

(5%)

Q1 2021

139.39

+5%

Q2

140.42

+12%

Q3

144.76

+18%

Q4

148.61

+8%

Q1 2022

157.90

+13%

Q2

175.35

+25%

Q3

182.81

+26%

Q4

195.97

+32%

Q1 2023

194.04

+23%

Q2

192.62

+10%

Q3

199.95

+9%

*Data is periodically updated.

Total Imports (Billion SAR)

 

 

Source: Argaam Tools

 

The YoY increase in the Kingdom’s Q3 2023 imports was driven by machinery and mechanical appliances, electrical equipment and parts thereof, as well as vehicles, aircraft, vessels and associated transport equipment, which dominate 22% and 18%, respectively, of the total.

 

Saudi Imports Value in Q3 2023 (SAR bln)

Segment

Q3 2022

Q3 2023

Change

Change (%)

Machinery and Mechanical Appliances; Electrical Equipment and Parts Thereof

34.06

43.99

+9.93

+29%

Vehicles, Aircraft, Vessels and Associated Transport Equipment

23.50

36.16

+12.66

+54%

Products of the Chemical or Allied Industries

17.78

17.89

+0.11

+1%

Mineral Products

17.11

17.06

(0.05)

(0.3%)

Base Metals and Articles of Base Metals

17.76

13.44

(4.32)

(24%)

Natural or cultured Pearls, Precious or Semi-Precious Stones, Precious Metals

8.24

9.92

+1.68

+20%

Vegetable Products

12.73

9.41

(3.32)

(26%)

Food Industry Products, Beverages, Alcoholic Liquids and Vinegar, Tobacco and Manufactured Tobacco Substitutes

9.23

8.69

(0.55)

(6%)

Plastics and Articles thereof; Rubber and Articles thereof

6.88

6.87

(0.01)

(0.1%)

Live Animals and Animal Products

6.62

6.06

(0.56)

(8%)

Others

28.89

30.46

+1.57

+5%

Total

182.81

199.95

+17.14

+9%

 

China topped the Kingdom's list of exporting countries with SAR 40.6 billion, accounting for 20% of the total value of imports in Q3 2023.

 

The US and the UAE followed, at 9% and 6%, respectively.

 

Top 10 Exporters to Saudi Arabia in Q2 2023 (SAR bln)

Country

Value

Ratio to Total

China

40.55

20.3%

US

17.87

8.9%

UAE

12.05

6.0%

India

11.05

5.5%

Germany

8.18

4.1%

Switzerland

7.72

3.9%

Japan

7.34

3.7%

South Korea

6.28

3.1%

Italy

5.42

2.7%

Russia

5.26

2.6%

Other Countries

78.24

39.1%

Total

199.95

100.0%

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