Overview In December 2022 Saudi Arabia exported SAR108B and imported SAR60.2B, resulting in a positive trade balance of SAR47.5B. Between December 2021 and December 2022 the exports of Saudi Arabia have increased by SAR1.97B (1.86%) from SAR106B to SAR108B, while imports increased by SAR8.37B (16.1%) from SAR51.9B to SAR60.2B.
Trade In December 2022, the top exports of Saudi Arabia were Mineral Products (SAR85.9B), Chemical Products (SAR8.09B), Plastics and Rubbers (SAR6.11B), Metals (SAR2.05B), and Machines (SAR1.81B). In December 2022 the top imports of Saudi Arabia were Machines (SAR14.1B), Transportation (SAR10.6B), Metals (SAR6.08B), Chemical Products (SAR5.61B), and Foodstuffs (SAR3.39B).
Destinations In December 2022, Saudi Arabia exported mostly to jpn (SAR12.6B), ind (SAR11.3B), kor (SAR9.05B), usa (SAR5.64B), and egy (SAR4.4B), and imported mostly from United States (SAR6.38B), United Arab Emirates (SAR4.39B), India (SAR3.53B), Germany (SAR2.98B), and Japan (SAR2.53B).
Growth In December 2022, the increase in Saudi Arabia's year-by-year exports was explained primarily by an increase in exports to South Korea (SAR5.82B or 110%), India (SAR4.11B or 52.6%), and Japan (SAR2.83B or 37.1%), and product exports increase in Mineral Products (SAR30.6B or 57.5%), Chemical Products (SAR2.31B or 44.4%), and Plastics and Rubbers (SAR1.77B or 28.9%). In December 2022, the increase in Saudi Arabia's year-by-year imports was explained primarily by an increase in imports from Egypt (SAR1.01B or 181%), South Korea (SAR966M or 98.7%), and Russia (SAR700M or 552%), and product imports increase in Machines (SAR2.3B or 24.8%), Chemical Products (SAR1.35B or 32.5%), and Vegetable Products (SAR963M or 39.4%).