Saudi merchandise exports rose 3.9% in May 2026, with the trade surplus soaring by 328.8%.

Saudi Arabia’s Commodity Exports Rise by 3.9% in May 2026

Saudi Arabia’s commodity exports increased by 3.9% in May 2026 compared to the same month last year. This growth primarily stemmed from a significant rise in oil exports, which surged by 19.5%. Consequently, oil exports now account for 75.6% of total exports, up from 65.7% in May 2025.

Decline in Non-Oil Exports

Data from the General Authority for Statistics revealed a concerning decline in non-oil exports, including re-exports, which fell by 26.1% year-on-year. National non-oil exports, excluding re-exports, dropped by 27.3%. Additionally, the value of re-exported goods decreased by 24.4%. This decline was largely influenced by a 32.4% drop in exports of machinery, electrical devices, and their parts, which represent 46.2% of total re-exports.

Trade Balance and Import Trends

The ratio of non-oil exports to imports fell to 33.8% in May 2026, down from 36.8% in the same month last year. This decline occurred as non-oil exports decreased at a faster rate than imports.

Import Decline Boosts Trade Surplus

Imports saw a significant decrease of 19.5% compared to May 2025. This reduction contributed to a remarkable 328.8% increase in the trade surplus for goods year-on-year.

Composition of Exports and Imports

• Non-Oil Exports:

  • Machinery, electrical devices, and their parts led non-oil exports, making up 22.0% of the total.
  • Plastics and rubber products followed closely, accounting for 17.6%.

• Imports:

  • Machinery, electrical devices, and their parts also topped imports, comprising 26.4%.
  • Metal products ranked second at 11.9%.

Key Trade Partners and Customs Ports

Data confirmed that China maintained its position as Saudi Arabia’s primary trade partner in May 2026, capturing 12.3% of total commodity exports. Additionally, China ranked first among countries exporting to Saudi Arabia, contributing 22.0% of total imports.

The Islamic Port of Jeddah emerged as the leading customs port for imports, handling 35.7% of the total. It also ranked first for non-oil exports, accounting for 24.4%.

For more details, visit the original article here.

To follow the news in Arabic