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%) |
Total Merchandise Imports (SAR bln)
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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