Saudi Arabia’s commodities exports jump 83.4% YoY in May

Getty Images

The kingdom’s oil exports soared by 105.5% YoY in May, making up 80.6% of total exports

Staff Writer, Arab Finance

July 26, 2022

PHOTO

Saudi Arabian exports of commodities surged by 83.4% year-on-year (YoY) to SAR 144.1 billion in May 2022, CNBC Arabia reported on July 25th.

The kingdom’s oil exports soared by 105.5% YoY in May, making up 80.6% of total exports.

Moreover, the non-oil exports, including re-exports, grew by 26.7% YoY to SAR 27.9 billion in May.

Meanwhile, imports saw a 21.8% YoY growth in May, registering EGP 53.9 billion.

It is worth highlighting that the Saudi Arabian non-oil private sector improved in June, recording the highest growth since September amid increasing demand and inflation.

The headline seasonally adjusted S&P Global Saudi Arabia Purchasing Managers' Index (PMI) grew to 57 in June from 55.7 in May.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.