Saudi commodity exports decreased by 25.3% in March 2023, to 106.1 billion riyals, compared to about 142 billion riyals in March 2022, according to data from the General Authority for Statistics.
The authority said in its monthly report, today, Thursday, that the decline came as a result of a decrease in oil exports by about 30 billion riyals, or 26.5%, to 83.1 billion riyals, compared to 113.1 billion riyals in March 2022.
The percentage of petroleum exports out of the total exports decreased from 79.6% in March 2022 to 78.3% in March 2023.
On a monthly basis, the value of merchandise exports increased by 4.4 billion riyals, or by 4.4%, compared to February 2023.
Non-oil exports, which include re-exports, decreased by 20.6% last March to 23 billion riyals, compared to 28.9 billion riyals in March 2022.
Imports increased by 9.8%, equivalent to about 5.5 billion riyals, last March, to 61.8 billion riyals, compared to 56.3 billion riyals in March 2022.
The total trade surplus amounted to 44 billion riyals in March 2023, compared to 86 billion riyals in March 2022.
