October 2024: 30% growth in the trade balance, an increase of 4 billion riyals

The trade balance in the Kingdom recorded a growth on a monthly basis of 30%, with an increase exceeding 4 billion riyals in October 2024, achieving a surplus worth 20,769 billion riyals, compared to a value of 15,999 billion riyals in September of the same year, according to preliminary data from the Kingdom’s International Trade Bulletin issued newly.
The volume of the Kingdom’s international trade amounted to 164,794 billion riyals, which recorded a growth of 2%, an increase of 2,594 billion riyals, compared to 162,200 billion riyals in September of the same year.

Merchandise and petroleum exports

Merchandise exports amounted to 92,782 billion riyals out of the total trade volume, while merchandise imports amounted to 72,012 billion riyals.
National non-petroleum merchandise exports recorded a value of about 19,413 billion riyals in October 2024, constituting 21% of total exports.

Petroleum exports also recorded a value of about 67,399 billion riyals, constituting 72.6% of total exports.
While the value of re-exports amounted to about 5,968 billion riyals, representing 6.4% of total exports.

Merchandise exports to the Kingdom

The group of Asian countries other than Arab and Islamic countries topped the groups of exporting countries in October 2024, accounting for 52.2% of the Kingdom’s total merchandise exports, with a value of 48,409 billion riyals.
The Gulf Cooperation Council countries ranked second as the largest exporting group of countries, accounting for 13.1% of total merchandise exports, with a value of 12,157 billion riyals.

The group of European Union countries came third with 13% of the total merchandise exports, with a value of 12,071 billion riyals.

List of exports by country

In terms of the list of exports by country, China came in first place as the largest exporting country, accounting for 16.1% of total merchandise exports, with a value of 14,951 billion riyals in October 2024.
India ranked second with a value of 8,793 billion riyals, representing 9.5% of total merchandise exports.
Japan was the third exporting country with a value of 8,703 billion riyals, representing 9.4% of total merchandise exports.

Non-oil exports

Non-oil exports, including re-exports, crossed through 33 various customs ports (sea, land, and air), and their initial value amounted to 25,382 billion riyals.
King Fahd Industrial Port in Jubail achieved the highest value among all available means of transportation and various ports, with a value of 3,775 billion riyals, or 15% of the total.