Saudi Arabia experienced significant growth in its non-oil exports, including re-exports, which surged by 12.4 percent to reach $27 billion (Dh99 billion) in April compared to the same period in 2023, according to the General Authority for Statistics (GASTAT).

GASTAT reported a more modest increase of 1.6 percent in non-oil exports excluding re-exports. Re-exported goods saw a substantial rise of 56.4 percent in April 2024 compared to April 2023.

The report highlighted a shift in the ratio of non-oil exports, including re-exports, to imports, increasing to 37.1 percent from 32.6 percent in April 2023. This was driven by the 12.4 percent increase in non-oil exports, while imports decreased by 1.3 percent during the same period.

In terms of merchandise exports, there was a slight decrease of 1 percent in April 2024, primarily due to a 4.2 percent decline in petroleum exports. Petroleum's share of total exports decreased from 80.6 percent in April 2023 to 78 percent in April 2024.

Regarding imports, April 2024 saw a decrease of 1.3 percent, amounting to $16 billion (Dh58.7 billion). The trade balance surplus decreased by 0.5 percent compared to April 2023, reaching $10.9 billion (Dh40 billion).

Compared to March 2024, the value of merchandise exports dropped by 1.7 percent, with non-oil exports including re-exports declining by 6.3 percent. Imports also decreased by 17.4 percent, leading to a 36 percent increase in the merchandise trade balance compared to March 2024.