Saudi Non-Oil Trade Surplus Rises 16% to SAR 3.78B with GCC Countries

Saudi Arabia's non-oil trade surplus with GCC countries increased by 16% in June to reach SAR 3.78 billion, according to data released by the General Authority for Statistics (GASTAT). The total value of non-oil merchandise exports and re-exports to GCC countries decreased by 10% year-on-year to SAR 8.66 billion during the same month.

The UAE accounted for the largest share of Saudi Arabia's foreign trade with the GCC, with a non-oil trade surplus of approximately SAR 2.82 billion. The kingdom's merchandise imports from GCC countries declined by 23% year-on-year to SAR 4.88 billion in June.

The data also showed that non-oil exports comprised SAR 5.28 billion in re-exports and around SAR 3.38 billion in national exports. Saudi Arabia posted a non-oil trade surplus of about SAR 2.82 billion with the UAE, making it the largest contributor to the kingdom's foreign trade with the GCC.