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‎Saudi merchandise imports rise to SAR 201.1B in Q1 2024

June 19, 2024
in Business
‎Saudi merchandise imports rise to SAR 201.1B in Q1 2024
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Saudi merchandise imports rise to SAR 201.1B in Q1 2024

Jeddah Islamic Port

Saudi Arabia’s merchandise imports grew by 6% year-on-year (YoY) to almost SAR 201.1 billion in Q1 2024, according to data issued by the General Authority for Statistics (GASTAT).

For more details about Saudi imports and exports on Argaam Tools

On a quarterly basis, merchandise imports fell by 0.3%, or nearly SAR 650.2 million.

The following table illustrates the Saudi merchandise imports since 2017: 

Saudi Merchandise Imports Since 2017

Period

Value (SAR bln)

Change YoY

Q1 2017

125.72

—

Q2

126.71

—

Q3

123.85

—

Q4

128.16

—

Q1 2018

126.06

+0.3%

Q2

133.02

+5%

Q3

128.02

+3%

Q4

126.90

(1%)

Q1 2019

132.19

+5%

Q2

151.82

+14%

Q3

145.45

+14%

Q4

144.90

+14%

Q1 2020

132.38

+0.1%

Q2

124.85

(18%)

Q3

123.03

(15%)

Q4

137.23

(5%)

Q1 2021

139.39

+5%

Q2

140.42

+12%

Q3

144.76

+18%

Q4

148.61

+8%

Q1 2022

157.90

+13%

Q2

175.35

+25%

Q3

182.81

+26%

Q4

195.97

+32%

Q1 2023

188.95

+20%

Q2

190.35

+9%

Q3

194.99

+7%

Q4

201.73

+3%

Q1 2024

201.08

+6%

*Data are periodically updated

Machinery and mechanical appliances, electrical equipment, and parts thereof dominated 23% of total imports. Vehicles, aircraft, vessels, and associated transport equipment came in second with 13%.

The following table illustrates Saudi merchandise in Q1 2024 by segment:  

Saudi Imports Value in Q1 2024 (SAR bln)

Segment

Q1 2023

Q1 2024

Change

Change (%)

Machinery and Mechanical Appliances; Electrical Equipment and Parts Thereof

40.09

45.63

+5.54

+14%

Vehicles, Aircraft, Vessels and Associated Transport Equipment

26.78

26.17

(0.61)

(2%)

Products of Chemical or Allied Industries

18.27

18.63

+0.36

+2%

Base Metals and Articles of Base Metals

16.63

18.21

+1.58

+10%

Mineral Products

13.74

14.22

+0.49

+4%

Natural or Cultured Pearls, Precious or Semi-Precious Stones, Precious Metals

6.22

11.68

+5.46

+88%

Food Industry Products, Beverages, Alcoholic Liquids and Vinegar, Tobacco and Manufactured Tobacco Substitutes

9.53

10.04

+0.51

+5%

Vegetable Products

11.00

9.72

(1.28)

(12%)

Live Animals and Animal Products

6.27

7.19

+0.92

+15%

Textile products

7.00

6.92

(0.07)

(1%)

Others

33.43

32.67

(0.77)

(2%)

Total

188.95

201.08

+12.13

+6%

China topped the Kingdom’s list of exporting countries with SAR 41.9 billion, accounting for 21% of total imports in Q1 2024. The US and the UAE followed, at 8% and 7%, respectively.

Top 10 Exporters to Saudi Arabia in Q1 2024 (SAR bln)

Countries

Value

% of Total

China

41.9

20.9%

US

16.2

8.1%

UAE

13.6

6.8%

India

13.1

6.5%

Egypt

8.2

4.1%

Switzerland

7.8

3.9%

Germany

7.5

3.7%

Japan

6.9

3.5%

Italy

6.1

3.1%

South Korea

6.0

3.0%

Other Countries

73.6

36.6%

Total

201.1

100.0%

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Argaam EN – https://www.argaam.com/en/article/articledetail/id/1735700

Tags: businessmerchandiseSaudi
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