#Saudi exports dropped in November, with oil revenue down 40% - Arabianbusiness

Saudi exports dropped in November, with oil revenue down 40% - Arabianbusiness

Saudi Arabia’s exports fell by more than a quarter in November compared with a year ago, driven by another drop in oil demand.

Total revenue was SAR58.2 billion ($15.5bn), down from SAR80.8bn a year earlier, according to a statement from the General Authority for Statistics. Oil exports fell 39.8 percent during the month.

Non-oil exports rose to about SAR20.6bn from SAR18.4bn in November 2019.

Plastics and rubber products increased 11.6 percent, contributing most to the overall advance in non-oil revenue; while the share of oil exports in total exports decreased to 64.6 percent from 77.3 percent in 2019.

China was the top destination for Saudi exports, followed by India and the United Arab Emirates.