Saudi non-oil exports edged 2% higher in March

Saudi Arabia’s non-oil exports rose 2 percent year-on-year (YoY) to SAR 16.3 billion in March 2017, data from the kingdom’s General Authority for Statistics showed.

Non-oil exports increased by SAR 3.7 billion in March compared to the previous month, marking its highest value since May 2016, when non-oil exports hit SAR 16.6 billion.

The rise in non-oil exports in March was attributed to a SAR 180 million increase in exports of transport equipment and parts, as well as a SAR 508 million increase in the exports of plastics and rubber products.

The United Arab Emirates was the top export market for Saudi products, followed by China, India, Singapore and Bahrain. The five countries accounted for 43 percent of the kingdom’s total non-oil exports in March.