Saudi Arabia Trade Surplus Narrows Sharply

Saudi Arabia recorded a trade surplus of SAR 23.0 billion in February 2026, narrowing slightly from SAR 23.2 billion in the same month a year ago, as imports increased more than exports. Imports rose 6.6% year-on-year to SAR 76.1 billion, driven by a 27.8% surge in purchases of machinery, electrical equipment and parts, which made up 30.5% of total imports, offsetting a 10.5% decline in transportation equipment and parts imports. China remained the Kingdom’s top source of imports, contributing 29.8% of the total, followed by the UAE (8.0%) and the US (7.4%). Meanwhile, exports grew 4.7% to SAR 99.1 billion, supported by a 0.6% rise in oil exports, which accounted for 68.7% of total exports. Non-oil exports also increased (6.3%), led by machinery, electrical equipment and parts, which jumped 56.1% and represented 25.5% of total non-oil exports. China remained the top destination for Saudi exports, accounting for 13.7% of the total, followed by the UAE (12.1%) and Japan (9.3%).

Saudi Arabia’s trade surplus narrowed to SAR 17.3 billion in January 2026 from SAR 21.0 billion in the corresponding month of the previous year, as import growth outpaced exports. Imports grew 6.5% year-on-year to SAR 81.4 billion, led by higher imports of machinery, electrical equipment and parts (23.7%), which accounted for 30.3% of total imports, as well as transportation equipment and parts (7.3%). China remained the Kingdom’s top source of imports, contributing 31.0% of the total, followed by the UAE (7.7%) and the US (6.9%). Exports rose at a softer 1.4% to SAR 98.7 billion, dragged by a 6.4% decline in oil exports, which made up 67.0% of total exports. This decline was partly offset by a 22.1% surge in non-oil exports, driven by a sharp rise in machinery, electrical equipment, and parts (77.5%), representing 24.2% of total non-oil exports. China remained the main destination for Saudi exports, accounting for 15.1% of total exports, followed by the UAE (12.9%) and India (9.8%).

Saudi Arabia’s trade surplus increased to SAR 13.0 billion in December 2025 from SAR 12.2 billion in the same month a year earlier, as exports rose more than imports. Outbound shipments rose 3% year-on-year to SAR 97.2 billion, supported mainly by higher shipments, which posted a modest gain of 1% and accounted for 67.4% of total exports. Non-oil exports increased 7.4%, supported by an 81.5% surge in machinery and electrical equipment, which represented 22.6% of non-oil exports. Japan was the Kingdom’s top export destination, absorbing 11.7% of shipments, followed by China at 11.6%, and the UAE at 10.8%. Meanwhile, inbound shipments grew by 2.4% to SAR 84.2 billion, driven mainly by increased imports in animal products (+12.1%), footwear, headgear, umbrellas, and sticks (+16.5%), and machinery and mechanical appliances (+27.5%). China remained the largest source of imports with a 28.7% share, followed by the US at 7.1%, and the UAE at 5%.