Non-oil exports increased by 38.2%
According to the General Authority for Statistics, earnings from the country’s non-oil exports grew by 38.2 per cent in September 2021. In September 2020, the country earned 18.3 billion Saudi riyals from exports of non-oil products. But by September this year, it had risen to 25.3 billion riyals. Plastics, rubber and allied products contributed the most to the export earnings. These products accounted for 31.4 per cent of non-oil exports. Their exports increased by 2.4 billion riyals. Chemical products are the second largest export of non-oil products. The figures show a 10 per cent increase in September compared to August 2021.
Increase in exports during the Kovid period
At the same time, the General Authority for Statistics said that during the Kovid period, the country saw a huge increase in exports, including oil. This is an increase of 77.4 per cent this year compared to September 2020. Saudi Arabia’s gains come at a time when export earnings are falling sharply due to the Kovid crisis in most countries. Total export earnings in September this year stood at 94.7 billion riyals. This is 53.4 billion riyals more than last year.
Huge increase in oil exports
At the same time, the figures show that there has been a huge increase in oil exports from the country in the last one year. The main reason for the increase in revenue during this period was the increase in oil exports. This is an increase of 97.8 per cent over the past one year. Through this, Saudi Arabia was able to generate an additional 34.3 billion riyals in revenue. Oil still accounts for 73.3 per cent of total exports. It was 65.7 per cent last September.
Most trade is with China
China’s largest trading partner is China. About 16 per cent of the country’s exports go to China. Products worth 15.9 billion riyals are exported to China. After China, India and Japan are in second and third place respectively. India accounts for 10.3 per cent of total exports. India imports 9.8 billion riyals worth of products from Saudi Arabia. Japan accounted for 9.7 billion riyals (10.2 percent). Other countries in the top ten are South Korea, the United States, the UAE, Egypt, Bahrain, Kenya and Taiwan.