Riyadh - Mubasher: Saudi merchandise exports plummeted by 43.6% in June 2020 to stand at SAR 43.49 million.
This decline was largely driven by a 54.8% drop in oil exports, with their share in total exports falling to 61.9% last June from 77.1% in June 2019, according to data from the General Authority for Statistics (GaStat).
On a month-on-month (MoM) basis, total merchandise exports witnessed a 19.1% surge, equivalent to SAR 6.984 million.
Non-oil exports went down by 6.1% year-on-year (YoY) in June 2020, reaching SAR 16.585 million. The trade of chemical products slid by 15.8% whilst plastics slipped by 16.6%
On a monthly basis, non-oil exports jumped by 31.2% or SAR 3.945 million.
Merchandise imports grew by 3% in June 2020 and amounted to SAR 44.521 million, backed by an increase in many sections, mainly the machinery and mechanical appliances; electrical equipment by 25% and products of the chemical or allied industries by 33%.
Imports advanced by 28.9% MoM or SAR 9.988 million last June.
China was the kingdom’s main trading partner for merchandise trade, with exports worth SAR 6.604 million, followed by South Korea and the US with SAR 4.907 million and SAR 3.586 million, respectively.
