GASTAT: Saudi Arabia’s non-oil exports surge 3.3% in Q1 of 2024

Saudi Gazette Report

RIYADH — Saudi Arabia’s non-oil exports recorded an annual increase of 3.3 percent in the first quarter of 2024 compared to the same period in 2023, according to a report issued on Thursday by the General Authority for Statistics (GASTAT). This increase was mainly attributed to a rise in the value of re-exports. The value of re-exports reached SR6.4 billion in March 2024, an 18 percent increase compared to SR5.4 billion in March 2023.

The International Trade Q1 2024 report, released by GASTAT, highlighted positive trends in the Kingdom’s export sector. The report revealed a significant 19 percent increase in exports of chemical and allied industry products in March 2024 compared to the previous month, reaching a value of SR6.5 billion in March.

Merchandise exports and non-oil exports rose by five percent and six percent respectively in March compared to February 2024. Exports of mineral products reached SR77.8 billion in March 2024, a 6 percent increase compared to February 2024, the GASTAT report pointed out.