Merchandise exports decreased by 31.8% during the second quarter of 2023

In the International Trade Report for the second quarter of 2023, the General Authority for Statistics revealed a decrease in merchandise exports by 31.8% compared to the second quarter of 2022 AD, with a value of 291.6 billion riyals in the second quarter of 2023 AD, down from 427.8 billion riyals in the second quarter of 2022 AD; This is as a result of the decrease in petroleum exports by 113.9 billion riyals, or by 33.4%, as it amounted to 227.7 billion riyals, compared to 341.6 billion riyals in the second quarter of 2022 AD.

The percentage of petroleum exports out of the total exports decreased from 79.9% in the second quarter of 2022 AD to 78.1% in the second quarter of 2023 AD, while the value of commodity exports decreased compared to the first quarter of 2023 AD by 23.8 billion riyals, or by 7.6%, while non-oil exports, which include Re-exports decreased by 25.9% from the second quarter of 2022, as it recorded 63.9 billion riyals, compared to 86.2 billion riyals.

Non-oil exports, excluding re-exports, decreased to 30.8%, while the value of re-exports decreased by 1.1% in the same period. The value of non-oil exports, including re-exports, decreased by 5.7 billion riyals, or by 8.2%, compared to the first quarter of 2023.

In terms of imports, it increased in the second quarter of 2023 AD by 2.0%, by 3.5 billion riyals, reaching 178.9 billion riyals, compared to 175.4 billion riyals in the second quarter of 2022 AD, while the value of imports decreased compared to the previous quarter, the first quarter of 2023 AD, by 15.2 billion riyals. and by 7.8%

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