Saudi Arabia's non-oil exports reached 86 billion riyals

 Saudi Arabia's non-oil exports have increased by 31% in the second quarter of this month, which is 7.6 billion riyals or 9.7% more than the first quarter of 2022.

According to Arab News, a report by the Saudi General Authority for Statistics has stated that the volume of exports has increased from 65.8 billion riyals in the same period last year to 86.2 billion riyals.

The kingdom's merchandise imports in the second quarter rose to 171 billion riyals, up 8.5 percent from the previous quarter, recording a year-on-year increase of 21.7 percent.

In the same period, the total exports of commercial goods have increased from 232.2 billion Rials to 429.8 billion Rials in the second quarter of 2021, which is 85.1 percent more.

Saudi Arabia's non-oil exports are driven by chemical and allied industries, which accounted for 35.3 percent of non-oil merchandise exports in the second quarter, the General Authority for Statistics reported.

The report added that the most imported goods were machinery and mechanical equipment along with electrical equipment and parts accounting for 18.9 percent of total merchandise imports.

According to the report, looking at the data of June, non-oil exports, including re-exports, have increased by 26.8 percent in June 2022, which has reached 30.1 billion riyals from 23.7 billion riyals in the same period last year.

On a monthly basis, non-oil exports have seen an increase of 1.9 billion Rials since May 2022, with an increase of 1.3 billion Rials in re-exports and 642 million Rials in non-oil exports.

According to the report, due to a 94.1% increase in oil exports, total exports have increased by 75.2% in June, which has reached 147.7 billion riyals from 84.3 billion riyals.

China tops the list of all countries with a volume of 14.1 percent of Saudi Arabia's exports in terms of trading partners. Japan and India are second with a share of ten percent of the country's exports.