The Saudi economy continues to recover, according to data issued by the General Authority for Statistics, where data for the month of October showed a remarkable growth in oil and non-oil exports. Merchandise exports increased by 90% compared to the same month last year, when international trade was affected by the restrictions imposed by the Corona pandemic, such as the travel ban and restrain. The value of merchandise exports reached 106.2 billion riyals ($28 billion) in October 2021, up from 55.9 billion riyals in October of last year, as a result of an increase in petroleum exports by 45.5 billion riyals, or 123.1 percent. While non-oil exports increased by 25.5 percent.
The percentage of petroleum exports out of total exports increased from 66.1 percent in October 2020, to 77.6% in October 2021. While the value of merchandise exports increased by 11.5 billion riyals, or 12.2 percent, compared to September 2021. China was the Kingdom's main partner in commodity trade last October. India, UAE, USA, Egypt, Taiwan, Bahrain and Singapore were among the top ten export countries.
The source (Al-Arab London Newspaper, Edited)
