AI Summary
Saudi Arabia’s merchandise imports increased 16% year-on-year (YoY) in Q4 2024 to SAR 233 billion, hitting a record high since 2017, according to data issued by the General Authority for Statistics (GASTAT).
Meanwhile, merchandise imports rose 5%, or nearly SAR 12 billion, compared to Q3 2024.
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 Q4 2024 by segment:
|
Saudi Imports Value in Q4 2024 (SAR bln) |
||||
|
Segment |
Q4 2023 |
Q4 2024 |
Change |
Change (%) |
|
Machinery and Mechanical Appliances; Electrical Equipment and Parts Thereof |
48.22 |
60.92 |
12.70 |
26 |
|
Vehicles, Aircraft, Vessels and Associated Transport Equipment |
33.41 |
35.26 |
1.85 |
6 |
|
Base Metals and Articles of Base Metals |
18.76 |
22.22 |
3.46 |
18 |
|
Products of Chemical or Allied Industries |
16.78 |
19.70 |
2.92 |
17 |
|
Mineral Products |
15.02 |
13.03 |
(1.99) |
(13) |
|
Precious stones or metals and their products, jewelry |
8.67 |
10.58 |
1.92 |
22 |
|
Food Industry Products, Beverages, and Tobacco |
8.67 |
9.92 |
1.25 |
14 |
|
Vegetable Products |
8.59 |
9.23 |
0.63 |
7 |
|
Plastics, Rubber and Their Products |
6.28 |
7.69 |
1.40 |
22 |
|
Optical Instruments and Photography Devices |
6.43 |
6.70 |
0.27 |
4 |
|
Others |
30.89 |
37.79 |
6.90 |
22 |
|
Total |
201.73 |
233.04 |
31.31 |
16 |
China topped the Kingdom's list of exporting countries with SAR 59.7 billion, accounting for 26% of total imports in Q4 2024. The US and UAE followed, at 9% and 5%, respectively.
|
Top 10 Exporters to Saudi Arabia in Q4 2024 (SAR bln) |
||
|
Countries |
Value |
% of Total |
|
China |
59.66 |
25.6% |
|
US |
21.07 |
9% |
|
UAE |
12.63 |
5.4% |
|
India |
11.34 |
4.9% |
|
Germany |
10.36 |
4.4% |
|
Japan |
9.48 |
4.1% |
|
Italy |
8.64 |
3.7% |
|
Egypt |
7.12 |
3.1% |
|
Switzerland |
7.10 |
3% |
|
UK |
6.52 |
2.8% |
|
Other Countries |
79.11 |
33.9% |
|
Total |
233.04 |
100% |
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