Saudi Trade Surplus Dips as Non-Oil Exports Slide

Saudi Arabia's merchandise trade surplus declined 10% year-over-year in June 2026, despite a drop in non-oil exports. The General Authority for Statistics (GASTAT) reported that national non-oil exports fell 11.4% compared to the same month last year.

The decline in re-exports was driven by a 41.7% drop in machinery, electrical equipment and parts, which accounted for 36.1% of total re-exports. Oil exports, on the other hand, fell only 2.3%, but still comprised 72% of total exports.

The ratio of non-oil exports to imports fell to 34.9% from 37.5% in June 2025. Chemical products and allied industries represented 19.2% of total non-oil exports, declining 30.4%. Plastics, rubber and their articles were among the most important non-oil export goods, accounting for 20.7% of the total and decreasing by 12.8% year-over-year.