Saudi merchandise imports fall to SAR 66.7B in January 2024

Jeddah Islamic Port

Saudi Arabia’s merchandise imports dropped in January 2024 by 1% year-on-year (YoY) to almost SAR 66.7 billion, according to data issued by the General Authority for Statistics (GASTAT).

 

For more details on merchandise imports from Argaam Tools

 

 

Meanwhile, merchandise imports declined 11%, or by nearly SAR 6.4 billion, month-on-month (MoM), as follows:

 

Saudi Merchandise Imports (SAR bln)*

Month 

2023

2024

Value

YoY Change (%)

January 

67.69

66.71

(0.97)

(1%)

February 

57.31

--

--

--

March 

69.04

--

--

--

April 

58.31

--

--

--

May 

69.54

--

--

--

June 

64.77

--

--

--

July 

70.20

--

--

--

August 

70.18

--

--

--

September 

62.91

--

--

--

October 

73.90

--

--

--

November 

67.15

--

--

--

December 

60.35

--

--

--

*Data is updated periodically.

 

Total Merchandise Imports (SAR bln)

 

Source: Argaam Tools

 

Imports of machinery and mechanical appliances, electrical equipment, and their parts came on top in January, representing 22%, or SAR 14.7 billion, of the total Saudi imports.

 

Vehicles, aircraft, vessels, and associated transport equipment came second at 14%.

 

The table below shows details of Saudi imports in January by segment:

 

Saudi Imports Value in January (SAR bln)

Segment

January 2023

January 2024

Value

Change

Machinery and Mechanical Appliances; Electrical Equipment; Parts Thereof

14.84

14.68

(0.16)

(1%)

Vehicles, Aircraft, Vessels, and Associated Transport Equipment

9.82

9.05

(0.77)

(8%)

Base Metals and Articles of Base Metal

5.50

6.19

+0.69

+13%

Products of the Chemical or Allied Industries

6.04

6.18

+0.14

+2%

Mineral Products

5.32

5.49

+0.17

+3%

Natural or Cultured Pearls, Precious or Semi-Precious Stones and Others

1.53

3.93

+2.40

+157%

Prepared Foodstuffs; Beverages, Spirits

and Vinegar; Tobacco and

Manufactured Tobacco Substitutes

3.31

3.33

+0.02

+1%

Vegetable Products

3.83

3.21

(0.62)

(16%)

Live animals and animal products

2.12

2.34

+0.22

+10%

Textiles and Textile Articles

2.22

2.05

(0.17)

(8%)

Others

13.15

10.27

(2.88)

(22%)

Total

67.69

66.71

(0.97)

(1%)
 

Saudi Arabia’s imports came mainly from China in January, at SAR 13.6 billion or 20% of the total.

 

The US and the UAE followed with SAR 5.2 billion and SAR 4.5 billion, respectively.

 

The top 10 exporters to Saudi Arabia accounted for almost 64%, or SAR 42.6 billion, of the total imports in January, as shown below:

 

Top 10 Exporters to Saudi Arabia in January 2024 (SAR bln)

Country

Value

 % of imports

China

13.61

20.4%

US

5.18

7.8%

UAE

4.46

6.7%

India

4.45

6.7%

Switzerland

2.89

4.3%

Japan

2.74

4.1%

Egypt

2.64

3.9%

South Korea

2.36

3.5%

Germany

2.28

3.4%

Italy

2.01

3.0%

Other Countries

24.11

36.1%

Total

66.71

100.0%

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