Weekly Market Brief – 2/24/2023

Saudi Arabia Macroeconomic Developments

• Overall merchandise exports increased by 1.1 percent in December 2022, compared to December 2021. The value of exports amounted to SAR108.2 billion ($28.9 billion) YoY in December 2022, up from SAR107 billion ($28.5 billion). This increase originated mainly from oil exports, which rose by SAR8.5 billion ($2.3 billion) or 11.1 percent in the same period, increasing to SAR85.5 billion ($22.8 billion) from SAR 77 billion ($20.5 billion) in December 2021.