The General Authority for Statistics (GASTAT) released today the International Trade report for July 2021.
The reports showed that the Kingdom of Saudi Arabia's overall merchandise exports increased by 79.6% in July 2021 compared to July 2020, when international trade was impacted by COVID-19 related lockdowns and travel bans in numerous countries. The value of exports amounted to 91.8 billion riyals in July 2021, up from 51.1 billion riyals in July 2020. This increase originated mainly from oil exports, which rose by 112.1% (37.5 billion riyals) in the same period.
According to the report, the share of oil exports in total exports increased from 65.5% (July 2020) to 77.4% (July 2021). Compared to the previous month (June 2021), total merchandise exports increased by 8.2% (7.0 billion riyals).
Non-oil exports increased by 17.9% year-on-year in July 2021, rising to 20.8 billion riyals from 17.6 billion riyals in July 2020. Of the most important non-oil merchandise, 'Plastics and Rubber and Articles Thereof' (37.6% of non-oil merchandise exports) increased by 47.7% (2.5 billion riyals) and 'Products of the Chemical or Allied Industries' (31.3% of non-oil merchandise exports) increased by 21.4% (1.1 billion riyals) from July 2020. Non-oil exports decreased compared to the previous month (June 2021) by 12.3% (-2.9 billion riyals).
The report said that merchandise imports increased by 13.2% (5.3 billion riyals) in July 2021. The value of imports amounted to 45.6 billion riyals in July 2021 compared to 40.3 billion riyals in July 2020. This increase was due to the increase in many sectors compared to July 2020, mainly 'Vehicles and Associated Transport Equipment' (112.9%) and 'Products of the Chemical or Allied Industries' (18.7%). Imports, however, decreased compared to the previous month (June 2021), by 3.1% (-1.4 billion riyals).
The ratio of non-oil exports to imports increased to 45.5% in July 2021 from 43.7% in July 2020, as a result of a higher increase in non-oil exports (17.9%) than in imports (13.2%) over that period.
In July 2021, exports to China amounted to 18.0 billion riyals (19.6% of total exports), making this country the main destination for exports of Saudi Arabia. South Korea and India followed next with 9.0 billion riyals (9.8% of total exports) and 8.3 billion riyals (9.1% of total exports), respectively. Japan, United Arab Emirates, U.S.A, Egypt, Taiwan, France, and Bahrain were the other countries that ranked in the top 10 destinations. Exports of Saudi Arabia to those 10 countries amounted to 61.9 billion riyals, accounting for 67.5% of total exports.
Imports from China amounted to 9.9 billion riyals (21.8% of total imports) in July 2021, making this country the main origin for imports of Saudi Arabia. U.S.A and United Arab Emirates followed next with imports of 4.8 billion riyals (10.6% of total imports) and 3.1 billion riyals (6.7% of total imports), respectively. India, Germany, Japan, Canada, Italy, Belgium and Egypt were the other countries that ranked in the top 10 countries for imports. Imports of Saudi Arabia from those 10 countries amounted to 28.7 billion riyals, accounting for 62.8% of total imports
Jeddah Islamic Sea Port was one of the most important ports of entry for imports, where 12.8 billion riyals of imports, corresponding to 28.0% of the total entered the Kingdom through Jeddah Islamic Port in July 2021.
Among the other major ports of entry for the imports were King Abdulaziz Port (19.9%), King Khalid International Airport (10.8%), Ras Tannorah Port (6.7%), and King Abdulaziz International Airport (6.4%). Those five ports together accounted for 71.8% of the total merchandise imports of the Kingdom.