Saudi Arabia's April Merchandise Exports Decline 25.2% Due to Decrease in Oil Shipments

Official data released on Thursday showed that Saudi Arabia's total merchandise exports, which includes oil, dropped by over 25% to $27.5 billion (SAR 103.0 billion) in April compared to the same period last year when it hit $36.7 billion (SAR 137.7 billion).

The decrease was mainly due to a significant fall in oil exports, which contribute a major chunk of Saudi's exports.

Although the share of oil in April's total exports increased to 81.3%, the value of oil exports declined by 23.6% to $22.3 billion (SAR 83.8 billion).

Saudi Arabia's major trade partner for both exports and imports was China.

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