The value of the Kingdom's oil bill decreased during the first half of 2023 by 15.6%, Department of Statistics (DoS) announced.

According to the DoS foreign trade report, value of the Kingdom's imports of crude oil, its derivatives and mineral oils went down in the first half of 2023, to reach about JD1.531 billion, compared to about JD1.813 billion for the same period last year.

The value of the drop in the oil bill until the end of last June 2023 amounted to about JD282 million, compared to the same period last year, the DoS figures showed.

The decrease in the Kingdom's imports of crude oil and its derivatives contributed to the decline in the value of the Kingdom's imports during the first half of 2023.

According to DoS data, fuel and mineral oils accounted for the largest share of all the Kingdom's imports of oil derivatives, amounting to about JD558 million, followed by crude oil with a value of JD362 million and then spirits of "gasoline" by about JD308 million.

Meanwhile, the Kingdom's imports of diesel amounted to about JD284 million, in addition to lubricants, which amounted to about JD19 million.