Saudi merchandise imports rise to SAR 201.1B in Q1 2024

Saudi Arabia’s merchandise imports grew by 6% year-on-year (YoY) to almost SAR 201.1 billion in Q1 2024, according to data issued by the General Authority for Statistics (GASTAT).

On a quarterly basis, merchandise imports fell by 0.3%, or nearly SAR 650.2 million.

The following table illustrates the Saudi merchandise imports since 2017:

Saudi Merchandise Imports Since 2017
Period	Value (SAR bln)	Change YoY
Q1 2017	125.72	--
Q2	126.71	--
Q3	123.85	--
Q4	128.16	--
Q1 2018	126.06	+0.3%
Q2	133.02	+5%
Q3	128.02	+3%
Q4	126.90	(1%)
Q1 2019	132.19	+5%
Q2	151.82	+14%
Q3	145.45	+14%
Q4	144.90	+14%
Q1 2020	132.38	+0.1%
Q2	124.85	(18%)
Q3	123.03	(15%)
Q4	137.23	(5%)
Q1 2021	139.39	+5%
Q2	140.42	+12%
Q3	144.76	+18%
Q4	148.61	+8%
Q1 2022	157.90	+13%
Q2	175.35	+25%
Q3	182.81	+26%
Q4	195.97	+32%
Q1 2023	188.95	+20%
Q2	190.35	+9%
Q3	194.99	+7%
Q4	201.73	+3%
Q1 2024	201.08	+6%

*Data are periodically updated

Machinery and mechanical appliances, electrical equipment, and parts thereof dominated 23% of total imports. Vehicles, aircraft, vessels, and associated transport equipment came in second with 13%.

The following table illustrates Saudi merchandise in Q1 2024 by segment:

Saudi Imports Value in Q1 2024 (SAR bln)
Segment	Q1 2023	Q1 2024	Change	Change (%)
Machinery and Mechanical Appliances; Electrical Equipment and Parts Thereof	40.09	45.63	+5.54	+14%
Vehicles, Aircraft, Vessels and Associated Transport Equipment	26.78	26.17	(0.61)	(2%)
Products of Chemical or Allied Industries	18.27	18.63	+0.36	+2%
Base Metals and Articles of Base Metals	16.63	18.21	+1.58	+10%
Mineral Products	13.74	14.22	+0.49	+4%
Natural or Cultured Pearls, Precious or Semi-Precious Stones, Precious Metals	6.22	11.68	+5.46	+88%
Food Industry Products, Beverages, Alcoholic Liquids and Vinegar, Tobacco and Manufactured Tobacco Substitutes	9.53	10.04	+0.51	+5%
Vegetable Products	11.00	9.72	(1.28)	(12%)
Live Animals and Animal Products	6.27	7.19	+0.92	+15%
Textile products	7.00	6.92	(0.07)	(1%)
Others	33.43	32.67	(0.77)	(2%)
Total	188.95	201.08	+12.13	+6%

China topped the Kingdom's list of exporting countries with SAR 41.9 billion, accounting for 21% of total imports in Q1 2024. The US and the UAE followed, at 8% and 7%, respectively.

Top 10 Exporters to Saudi Arabia in Q1 2024 (SAR bln)
Countries	Value	% of Total
China	41.9	20.9%
US	16.2	8.1%
UAE	13.6	6.8%
India	13.1	6.5%
Egypt	8.2	4.1%
Switzerland	7.8	3.9%
Germany	7.5	3.7%
Japan	6.9	3.5%
Italy	6.1	3.1%
South Korea	6.0	3.0%
Other Countries	73.6	36.6%
Total	201.1	100.0%