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Thndr Claps » Saudi Claps » Economy 🏙 » Oil boosts Saudi exports 🛢️

Oil boosts Saudi exports 🛢️

by Omar El Shorafa
December 22, 2022

The Clap
Saudi oil exports increased by 17.1% during October 2022, compared to the same period in 2021, while non-oil exports increased by 4.4% YoY.

What
The General Authority for Statistics indicated that commodity exports increased by 13.9% during October, compared to the same period in 2021 due to a 16.6% increase in oil exports.

So What
The general trend of commodity trade has been positive lately, due to strong demand for energy products across the world.

Now What
The percentage of petroleum exports out of total exports jumped from 77.5% in October 2021 to 79.4% last October.

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