Prime Highlights
- Saudi Arabia’s non-oil exports jumped 20.7% year-on-year to SR32.69 billion in November, reflecting progress in economic diversification under Vision 2030.
- The growth helped the Kingdom’s trade surplus rise 70.2%, supported by strong exports and stable import levels.
Key Facts
- Non-oil exports, including re-exports, rose to 42.2% of total imports, led by machinery, electrical equipment, and chemical products.
- Total merchandise exports reached SR99.73 billion, with oil exports growing 5.4% but their share falling to 67.2%.
Background
Saudi Arabia’s non-oil exports recorded strong growth in November. Rising 20.7% year on year to SR32.69 billion, according to preliminary data released by the General Authority for Statistics (GASTAT). The increase helped improve the Kingdom’s trade balance and highlighted steady progress in economic diversification under Vision 2030.
GASTAT said national non-oil exports, excluding re-exports, increased by 4.7% compared with November last year. Meanwhile, the share of non-oil exports, including re-exports in total imports, rose to 42.2%, compared with 34.9% a year earlier. This improvement came as imports declined slightly by 0.2% during the month.
Re-exports grew strongly, rising 53.1% from last year. Machinery, electrical equipment, and parts led the growth, jumping 81.9% and making up more than half of all re-exports. It also led overall non-oil exports, accounting for 24.2% of total shipments and growing by 81.5% compared with the previous year. Chemical products followed, representing 20.3% of non-oil exports.
In November, Saudi Arabia sent the most non-oil exports to the UAE. India, China, Singapore, and Bahrain followed. Ports and airports handled most of the shipments, with Jeddah Islamic Seaport and King Fahad Industrial Seaport among the busiest exit points.
Saudi Arabia’s total merchandise exports reached SR99.73 billion in November, up 10% from last year. Oil exports grew 5.4%, but their share of total exports fell to 67.2%, showing a gradual shift toward non-oil trade.
Imports reached SR77.38 billion. The trade surplus rose 70.2%, supported by strong exports and stable import levels.
