Increase in Non-Oil Exports in Saudi Arabia

Official data showed that non-oil exports in Saudi Arabia (including re-exports) recorded an increase of 0.8 percent compared to January 2023. However, non-oil exports (excluding re-exports) fell by 11.5 percent, while the value of re-exported goods rose by 42.6 percent during the same period. The Saudi General Authority for Statistics indicated that the kingdom's trade balance surplus declined by 26.3 percent year-on-year in January, reaching 28 billion riyals (7.4 billion dollars). This was due to a decrease in commodity exports by 10.3 percent to 95 billion riyals, following a decline in oil exports, while imports fell by 1.4 percent to 67 billion riyals.