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Saudi Arabia’s merchandise imports dropped by 2% year-on-year (YoY) to almost SAR 60.1 billion in September, marking its first annual fall since February 2021, according to data issued by the General Authority for Statistics (GASTAT).
Imports dropped by 14%, or nearly SAR 9.6 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 |
69.66 |
5.86 |
9 % |
|
September |
61.46 |
60.09 |
(1.37) |
(2%) |
|
October |
66.28 |
-- |
-- |
-- |
|
November |
64.75 |
-- |
-- |
-- |
|
December |
64.94 |
-- |
-- |
-- |
Imports of machinery and mechanical appliances, electrical equipment and parts thereof topped imports in September, representing 22%, or SAR 13.1 billion, of the total Saudi imports. Vehicles, aircraft, vessels and associated transport equipment accounted for 18%.
The table below shows details of Saudi imports in September by segment:
|
Saudi Imports Value in August (SAR bln) |
||||
|
Segment |
September 2022 |
September 2023 |
Value |
Change |
|
Machinery and Mechanical Appliances; Electrical Equipment; Parts Thereof |
12148.2 |
13068.4 |
+920.2 |
+8% |
|
Vehicles, Aircraft, Vessels and Associated Transport Equipment |
9471.4 |
10744.9 |
+1273.5 |
+13% |
|
Base Metals and Articles of Base Metal |
5724.2 |
5373.4 |
(350.9) |
(6%) |
|
Products of the Chemical or Allied Industries |
5577.5 |
5240.8 |
(336.7) |
(6%) |
|
Mineral Products |
4852.6 |
5063.0 |
+210.4 |
+4% |
|
Prepared Foodstuffs; Beverages, Spirits and Vinegar; Tobacco and Manufactured Tobacco Substitutes |
2950.6 |
2709.5 |
(241.1) |
(8%) |
|
Natural or Cultured Pearls, Precious or Semi-Precious Stones and Others |
2554.1 |
2695.6 |
+141.5 |
+6% |
|
Vegetable Products |
4827.3 |
2563.1 |
(2264.2) |
(47%) |
|
Plastics and Articles Thereof; Rubber and Articles Thereof |
2136.9 |
2037.8 |
(99.1) |
(5%) |
|
Textiles and articles thereof |
2176.6 |
1912.1 |
(264.5) |
(12%) |
|
Others |
9039.1 |
8679.7 |
(359.4) |
(4%) |
|
Total |
61458.6 |
60088.2 |
(1370.4) |
(2%) |
China topped the Kingdom's list of importers with approximately SAR 12.3 billion, accounting for 21% of the total in September.
The US and the UAE took the second and third positions, with SAR 5.23 billion and SAR 4 billion imports, respectively.
The top 10 exporters to Saudi Arabia accounted for almost 62%, or SAR 37.4 billion, of the total imports in September, as shown below:
|
Top 10 Exporters to Saudi Arabia in September (SAR bln) |
||
|
Country |
Value |
% of imports |
|
China |
12.33 |
20.5% |
|
US |
5.23 |
8.7% |
|
UAE |
4.00 |
6.7% |
|
India |
3.48 |
5.8% |
|
Egypt |
2.39 |
4.0% |
|
Germany |
2.32 |
3.9% |
|
Japan |
2.24 |
3.7% |
|
Switzerland |
1.99 |
3.3% |
|
South Korea |
1.92 |
3.2% |
|
Italy |
1.52 |
2.5% |
|
Other Countries |
22.66 |
37.7% |
|
Total |
60.09 |
100.0% |
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