Saudi merchandise imports drop 4% to SAR 72B in October
Saudi merchandise imports drop 4% to SAR 72B in October
Saudi Arabia’s merchandise imports declined 4% year-on-year (YoY) in October to SAR 72 billion, marking the first annual pullback in 10 months, according to data issued by the General Authority for Statistics (GASTAT). Moreover, merchandise imports decreased 1%, or nearly SAR 1.1 billion, month-on-month (MoM), as follows: Saudi Merchandise Imports (SAR bln)* Month 2023 2024 Value YoY Change (%) January 66.07 67.04 +0.97 +1% February 56.20 67.14 +10.95 +19% March 66.69 73.59 +6.90 +10% April 61.12 63.99 +2.88 +5% May 68.44 75.02 +6.58 +10% June 60.80 69.27 +8.47 +14% July 66.79 77.92 +11.13 +17% August 67.44 69.77 +2.33 +3% September 60.75 73.10 +12.35 +15% October 74.87 72.01 (2.86) (4%) November 64.66 -- -- -- December 62.20 -- -- -- *Data is periodically updated. Imports of machinery and mechanical appliances, electrical equipment, and parts thereof accounted for 26%, or SAR 18.5 billion, of the total Saudi imports in October. Vehicles, aircraft, vessels, and associated transport equipment came in second at roughly 15%. The table below shows details of Saudi imports in October by segment: Saudi Imports by Segment in October (SAR bln) Segment October 2023 October 2024 Value Change (%) Machinery and Mechanical Appliances; Electrical Equipment; Parts Thereof 17.33 18.52 1.19+ +7% Vehicles, Aircraft, Vessels, and Associated Transport Equipment 14.04 11.01 (3.03) (22%) Products of the Chemical or Allied Industries 6.21 6.54 +0.33 +5% Base Metals and Articles of Base Metal 6.35 6.47 +0.12 +2% Mineral Products 6.01 4.63 (1.39) (23%) Vegetable Products 3.01 3.19 +0.18 +6% Prepared Foodstuffs; Beverages, Spirits, and Vinegar; Tobacco and Manufactured Tobacco Substitutes 4.10 2.95 (1.15) (28%) Plastics and Articles Thereof; Rubber and Articles Thereof 2.95 2.75 (0.20) (7%) Optical, Photo, and Film Equipment 2.26 2.57 +0.31 +14% Livestock and Animal Products 2.18 2.27 +0.08 +4% Others 10.42 11.12 +0.70 +7% Total 74.87 72.01 (2.85) (4%) Saudi Arabia’s imports came mainly from China in October, at SAR 17.6 billion (26%) of the total. The US came in second with SAR 5.7 billion, followed by the UAE (SAR 4.3 billion). The top 10 exporters to Saudi Arabia accounted for almost 64%, or SAR 46.2 billion, of total imports in for the same month, as shown below: Top 10 Exporters to Saudi Arabia in October (SAR bln) Country Value % ofTotal China 17.58 24.4% US 5.69 7.9% UAE 4.35 6.0% India 4.12 5.7% Germany 3.22 4.5% Italy 2.67 3.7% Egypt 2.54 3.5% Japan 2.35 3.3% South Korea 1.87 2.6% UK 1.81 2.5% Other Countries 25.82 35.9% Total 72.01 100.0%
