Saudi commodity exports drop to 11-year low in 2016

Saudi Arabia’s commodity exports declined for the fourth consecutive year by 10 percent year-on-year (YoY) to SAR 688.4 billion in 2016, the lowest level in 11 years, data of the General Authority for Statistics (GAS) showed.

Saudi commodities exports (SAR bln)
Period	Value	Y-o-Y variation
2005	677.14	--
2006	791.34	+17%
2007	874.40	+10%
2008	1,175.48	+34%
2009	721.11	(39%)
2010	941.79	+31%
2011	1,367.62	+45%
2012	1,456.50	+6%
2013	1,409.52	(3%)
2014	1,284.12	(9%)
2015	763.31	(41%)
2016	688.42	(10%)

The decline was attributed to an 11 percent YoY fall in oil exports – which accounted for 74.2 percent of total exports – to SAR 510.7 billion.

Meanwhile, non-oil exports also slipped 6 percent YoY to SAR 177.7 billion.

Saudi oil and non-oil exports (SAR bln)
	Non-oil exports			Oil exports
Period	Value	YoY variation	Value		YoY variation
2007	104.47	+22%	769.94		+9%
2008	121.62	+16%	1,053.86		+37%
2009	109.62	(10%)	611.49		(42%)
2010	134.61	+23%	807.18		+32%
2011	176.57	+31%	1,191.05		+48%
2012	190.95	+8%	1,265.55		+6%
2013	202.44	+6%	1,207.08		(5%)
2014	217.03	+7%	1,067.09		(12%)
2015	189.90	(13%)	573.41		(46%)
2016	177.69	(6%)	510.73		(11%)

The drop in commodities exports last year came mainly due to a fall of 11 percent YoY (or SAR 62.6 billion) in metal products to SAR 512.3 billion. Metal products represented 74 percent of total commodity exports.

Chemical exports also saw a 14 percent YoY drop to SAR 50.4 billion in 2016.

China was the Kingdom’s top importer last year, with total imports of SAR 79.9 billion. It was followed by Japan (SAR 72.3 billion) and the United States (SAR 66.1 billion). The ten countries accounted for 68.6 percent of the Kingdom’s total commodity exports in 2016.

Saudi non-oil exports (SAR bln)
Variation percentage	Variation value	2016	2015	Product
(11%)	(62.6)	512.3	574.8	Metal products
(3%)	(1.8)	56.0	57.8	Plastics, rubber products
(14%)	(8.4)	50.4	58.8	Chemical industry products
(10%)	(1.7)	15.8	17.5	Transport equipment
(6%)	(1.0)	14.2	15.1	Base metals
(3%)	(0.4)	10.4	10.8	Machinery, equipment, appliances
+4%	+0.2	6.0	5.8	Live animals and its products
(6%)	(0.4)	5.9	6.3	Food, beverages and tobacco
+75%	+1.9	4.5	2.6	Pearls and precious stones
(7%)	(1.0)	12.9	13.8	Others
(10%)	(74.9)	688.4	763.3	Total

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