AI Summary
A Saudi port
Saudi Arabia’s merchandise imports dropped by 4% year-on-year (YoY) to almost SAR 61.5 billion in August; marking its first YoY fall in almost two and half years, according to data issued by the General Authority for Statistics (GASTAT).
Imports dropped by 12%, or nearly SAR 8.5 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 |
69.99 |
12.43 |
22% |
|
August |
63.80 |
61.51 |
(2.28) |
(4%) |
|
September |
61.46 |
-- |
-- |
-- |
|
October |
66.28 |
-- |
-- |
-- |
|
November |
64.75 |
-- |
-- |
-- |
|
December |
64.94 |
-- |
-- |
-- |
Total Merchandise Imports (SAR bln)
Imports of machinery and mechanical appliances, electrical equipment and parts thereof topped imports in August, representing 24%, or SAR 14.5 billion of the total Saudi imports. Vehicles, aircraft, vessels and associated transport equipment accounted for 17%.
The table below shows details of Saudi imports in August by segment:
|
Saudi Imports Value in August (SAR bln) |
||||
|
Segment |
August 2022 |
August 2023 |
Value |
Change |
|
Machinery and Mechanical Appliances; Electrical Equipment; Parts Thereof |
12.10 |
14.48 |
2.38+ |
+20% |
|
Vehicles, Aircraft, Vessels and Associated Transport Equipment |
6.80 |
10.35 |
3.55+ |
+52% |
|
Products of the Chemical or Allied Industries |
6.76 |
5.74 |
(1.01) |
(15%) |
|
Base Metals and Articles of Base Metal |
6.05 |
5.18 |
(0.87) |
(14%) |
|
Metal Products |
6.27 |
4.03 |
(2.24) |
(36%) |
|
Natural or Cultured Pearls, Precious or Semi-Precious Stones and Others |
2.37 |
3.54 |
1.17+ |
+49% |
|
Vegetable Products |
4.70 |
2.75 |
(1.95) |
(42%) |
|
Prepared Foodstuffs; Beverages, Spirits and Vinegar; Tobacco and Manufactured Tobacco Substitutes |
3.61 |
2.43 |
(1.18) |
(33%) |
|
Plastics and Articles Thereof; Rubber and Articles Thereof |
2.53 |
2.07 |
(0.45) |
(18%) |
|
Live Animals and Animal Products |
2.40 |
2.00 |
(0.40) |
(17%) |
|
Others |
10.22 |
8.93 |
(1.29) |
(13%) |
|
Total |
63.80 |
61.51 |
(2.28) |
(4%) |
China topped the Kingdom's importers, with approximately SAR 11.85 billion, accounting for 19% of the total in August.
The US and the UAE took the second and third positions, with SAR 5.95 billion and SAR 3.59 million imports, respectively.
The top 10 exporters to Saudi Arabia accounted for almost 61%, or SAR 37.6 billion, of the Kingdom's total imports in August, as shown below:
|
Top 10 Exporters to Saudi Arabia in August (SAR bln) |
||
|
Country |
Value |
% of imports |
|
China |
11.85 |
19.3% |
|
US |
5.95 |
9.7% |
|
UAE |
3.59 |
5.8% |
|
India |
3.11 |
5.1% |
|
Germany |
2.62 |
4.3% |
|
Switzerland |
2.60 |
4.2% |
|
Singapore |
2.30 |
3.7% |
|
Japan |
2.20 |
3.6% |
|
Italy |
1.76 |
2.9% |
|
South Korea |
1.63 |
2.7% |
|
Other Countries |
23.89 |
38.8% |
|
Total |
61.51 |
100.0% |
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