Jeddah Islamic Port
Saudi Arabia’s merchandise imports increased 11% year-on-year (YoY) in Q3 2024 to SAR 217.3 billion, hitting a record high since 2017, according to data issued by the General Authority for Statistics (GASTAT).
Meanwhile, merchandise imports rose 4%, or nearly SAR 9 billion, compared to Q2 2024.
The following table illustrates the Saudi merchandise imports since 2017:
|
Saudi Merchandise Imports Since 2017 |
||
|
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 |
188.95 |
+20% |
|
Q2 |
190.35 |
+9% |
|
Q3 |
194.99 |
+7% |
|
Q4 |
201.73 |
+3% |
|
Q1 2024 |
207.77 |
+10% |
|
Q2 |
208.29 |
+9% |
|
Q3 |
217.25 |
+11% |
Machinery and mechanical appliances, electrical equipment, and parts thereof dominated 26% of total imports. Vehicles, aircraft, vessels, and associated transport equipment came in second with 15%.
The following table illustrates Saudi merchandise in Q3 2024 by segment:
|
Saudi Imports Value in Q3 2024 (SAR bln) |
||||
|
Segment |
Q3 2023 |
Q3 2024 |
Change |
Change (%) |
|
Machinery and Mechanical Appliances; Electrical Equipment and Parts Thereof |
43.95 |
57.48 |
+13.53 |
+31% |
|
Vehicles, Aircraft, Vessels and Associated Transport Equipment |
29.83 |
32.52 |
+2.69 |
+9% |
|
Products of Chemical or Allied Industries |
17.80 |
21.29 |
+3.50 |
+20% |
|
Base Metals and Articles of Base Metals |
17.29 |
21.23 |
+3.94 |
+23% |
|
Mineral Products |
14.95 |
12.85 |
(2.09) |
(14%) |
|
Vegetable Products |
9.65 |
9.61 |
(0.04) |
(0.4%) |
|
Food Industry Products, Beverages, Alcoholic Liquids and Vinegar, Tobacco and Manufactured Tobacco Substitutes |
8.78 |
9.43 |
+0.65 |
+7% |
|
Plastics, Rubber and Their Products |
6.89 |
8.04 |
+1.15 |
+17% |
|
Live Animals and Animal Products |
6.02 |
6.42 |
+0.40 |
+7% |
|
Optical Instruments and Photography Devices |
5.94 |
6.11 |
+0.17 |
+3% |
|
Others |
33.90 |
32.27 |
(1.62) |
(5%) |
|
Total |
194.99 |
217.25 |
+22.27 |
+11% |
China topped the Kingdom's list of exporting countries with SAR 53.8 billion, accounting for 25% of total imports in Q3 2024. The US and India followed, at 8% and 5%, respectively. UAE retreated to the fifth rank at 4%.
|
Top 10 Exporters to Saudi Arabia in Q3 2024 (SAR bln) |
||
|
Countries |
Value |
% of Total |
|
China |
53.8 |
24.8% |
|
US |
17.6 |
8.1% |
|
India |
11.0 |
5.1% |
|
Germany |
10.4 |
4.8% |
|
UAE |
9.7 |
4.5% |
|
Italy |
7.8 |
3.6% |
|
Japan |
7.5 |
3.5% |
|
Egypt |
6.2 |
2.8% |
|
South Korea |
5.6 |
2.6% |
|
UK |
5.1 |
2.4% |
|
Other Countries |
82.5 |
38.0% |
|
Total |
217.3 |
100.0% |
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