Saudi Arabia’s merchandise imports declined 4% year-on-year (YoY) in October to SAR 72 billion, marking the first annual pullback in 10 months, according to data issued by the General Authority for Statistics (GASTAT).
Moreover, merchandise imports decreased 1%, or nearly SAR 1.1 billion, month-on-month (MoM), as follows:
|
Saudi Merchandise Imports (SAR bln)* |
||||
|
Month |
2023 |
2024 |
Value |
YoY Change (%) |
|
January |
66.07 |
67.04 |
+0.97 |
+1% |
|
February |
56.20 |
67.14 |
+10.95 |
+19% |
|
March |
66.69 |
73.59 |
+6.90 |
+10% |
|
April |
61.12 |
63.99 |
+2.88 |
+5% |
|
May |
68.44 |
75.02 |
+6.58 |
+10% |
|
June |
60.80 |
69.27 |
+8.47 |
+14% |
|
July |
66.79 |
77.92 |
+11.13 |
+17% |
|
August |
67.44 |
69.77 |
+2.33 |
+3% |
|
September |
60.75 |
73.10 |
+12.35 |
+15% |
|
October |
74.87 |
72.01 |
(2.86) |
(4%) |
|
November |
64.66 |
-- |
-- |
-- |
|
December |
62.20 |
-- |
-- |
-- |
Imports of machinery and mechanical appliances, electrical equipment, and parts thereof accounted for 26%, or SAR 18.5 billion, of the total Saudi imports in October.
Vehicles, aircraft, vessels, and associated transport equipment came in second at roughly 15%.
The table below shows details of Saudi imports in October by segment:
|
Saudi Imports by Segment in October (SAR bln) |
||||
|
Segment |
October 2023 |
October 2024 |
Value |
Change (%) |
|
Machinery and Mechanical Appliances; Electrical Equipment; Parts Thereof |
17.33 |
18.52 |
1.19+ |
+7% |
|
Vehicles, Aircraft, Vessels, and Associated Transport Equipment |
14.04 |
11.01 |
(3.03) |
(22%) |
|
Products of the Chemical or Allied Industries |
6.21 |
6.54 |
+0.33 |
+5% |
|
Base Metals and Articles of Base Metal |
6.35 |
6.47 |
+0.12 |
+2% |
|
Mineral Products |
6.01 |
4.63 |
(1.39) |
(23%) |
|
Food Products, Beverages, and Tobacco |
3.01 |
3.19 |
+0.18 |
+6% |
|
Precious Stones or Metals and Their Articles, Jewelry |
4.10 |
2.95 |
(1.15) |
(28%) |
|
Vegetable Products |
2.95 |
2.75 |
(0.20) |
(7%) |
|
Plastics and Articles Thereof; Rubber and Articles Thereof |
2.26 |
2.57 |
+0.31 |
+14% |
|
Livestock and Animal Products |
2.18 |
2.27 |
+0.08 |
+4% |
|
Others |
10.42 |
11.12 |
+0.70 |
+7% |
|
Total |
74.87 |
72.01 |
(2.85) |
(4%) |
Saudi Arabia’s imports came mainly from China in October, at SAR 17.6 billion (24%) of the total. The US came in second with SAR 5.7 billion, followed by the UAE (SAR 4.3 billion).
The top 10 exporters to Saudi Arabia accounted for almost 64%, or SAR 46.2 billion, of total imports in the same month, as shown below:
|
Top 10 Exporters to Saudi Arabia in October (SAR bln) |
||
|
Country |
Value |
% of Total |
|
China |
17.58 |
24.4% |
|
US |
5.69 |
7.9% |
|
UAE |
4.35 |
6.0% |
|
India |
4.12 |
5.7% |
|
Germany |
3.22 |
4.5% |
|
Italy |
2.67 |
3.7% |
|
Egypt |
2.54 |
3.5% |
|
Japan |
2.35 |
3.3% |
|
South Korea |
1.87 |
2.6% |
|
UK |
1.81 |
2.5% |
|
Other Countries |
25.82 |
35.9% |
|
Total |
72.01 |
100.0% |
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