RIYADH: Saudi non-oil exports increased by 40.5 percent year-on-year in June 2021, rising to SR23.6 billion ($6.2 billion) from SR16.8 billion in June of last year, official data revealed.
Plastics and Rubber and Articles Thereof jumped by 68 percent and Products of the Chemical or Allied Industries increased by 49.2 percent, in June this year compared to the same period of last year, the General Authority for Statistics (GASTAT) reported.
Non-oil exports increased by 7.2 percent equivalent to SR1.6 billion in June, compared to the previous month of May 2021.
"Saudi Arabian government supported the private sector and factories to face the financial and economic effects caused by the pandemic, so the Kingdom became safe from the consequences of the pandemic, and now as soon as life return to normal, we see that the growth of non-oil exports by 40.5% is the normal result of government support," Muath Alamri, a Riyadh-based independent economist, told Arab News.
"Local industries played a role this year with petrochemicals exports rising in the second quarter of 2021, while at the same time there was an increase in factories as the total number went up to more than 10,000 factories," he added.
Overall merchandise exports jumped by 91.8 percent in June of 2021 compared to the same period of last year, when international trade was impacted by Covid-related lockdowns and travel bans in numerous countries.
The value of exports increased to SR84.7 billion riyals in June 2021, up from SR44.2 billion in June 2020, originating mainly from oil exports, which rose by SR33.7 billion riyals or 123.2 percent in the same period.
Non-oil exports rose by 52.1 percent year-on-year in the second quarter of 2021, rising from SR43.2 billion in the second quarter of last year to SR65.7 billion, according to GASTAT.
