The General Authority for Statistics data revealed that petroleum exports grew by 6.64% during the first quarter of 2021, with an increase of 9.49 billion riyals over the same quarter of last year. Saudi revenues from oil exports amounted to 152.51 billion riyals in the first quarter of this year, rising compared to 143.01 billion riyals in the same quarter of 2020. The value of oil exports jumped by more than 25% during the first quarter of 2021 compared to the previous quarter, and an increase of 30.98 billion riyals. , On the revenues of the last quarter of last year, amounting to 121.53 billion riyals.
Oil export revenues rebounded after recording a decline during the second quarter of 2020; In conjunction with the outbreak of the Corona pandemic (Covid-19), it reached 76.49 billion riyals, a decline of 46.5% from the first quarter of the same year, during which it amounted to 143.01 billion riyals.
During the first quarter of 2021, the Kingdom recorded the highest returns on oil exports in 5 quarters; Specifically, since the fourth quarter of 2019, when it amounted to about 186 billion riyals. During March 2021, Saudi Arabia achieved the second highest revenue from oil exports since the start of the Corona pandemic in the same month last year. Revenues from March oil exports amounted to 52.32 billion riyals, the highest since last January, when it reached 53.03 billion riyals.
At the level of non-oil exports, they continued to rise at the end of the first quarter of 2021 at the annual or quarterly level, increasing their share of the Kingdom’s total exports to 28.2%, compared to 25.4% in the same quarter of last year.
The total value of the Kingdom’s exports amounted to 212.42 billion riyals in the first quarter of this year, compared to 191.67 billion riyals in the same quarter of 2020, and compared to 180.04 billion riyals in the fourth quarter of last year, an increase of 17.98%.