Saudi Arabian export stats show mixed results in non-oil commerce
Saudi Arabia is working to diversify its economy, but figures from January show it remains dependent on foreign oil sales.
Saudi Arabia released data Thursday on its exports for January 2022.
The kingdom’s total exports in January amounted to $28.5 billion — a roughly 50% increase from the same month in 2021. The increase “originated mainly” from oil exports, which went up 57% on the year, the General Authority for Statistics said in a press release.
Non-oil exports were $6.1 billion in January 2022, constituting a 27.5% year-on-year increase. However, non-oil exports from December 2021 to January 2022 decreased 18.5%, according to the authority.
China was the largest recipient of Saudi exports in January 2022, receiving 16.1% of the total. India and South Korea, together accounted for 21.5% of exports, the authority said.
