Saudi Arabia Trade Surplus Narrows Sharply

Saudi Arabia’s trade surplus expanded to SAR 25.4 billion in April 2026, more than doubling from SAR 12.7 billion in the same month last year, as exports increased while imports declined. Exports rose 9.3% from a year earlier to SAR 101.2 billion, mainly driven by an 11.7% increase in oil exports, which represented 68.8% of total exports. Meanwhile, non-oil exports fell 7.3% amid a decline in shipments of plastic and rubber products (-12.4%), which accounted for 17.1% of total non-oil exports. China remained the leading destination for Saudi exports, accounting for 15.2% of the total, followed by the UAE (10.6%) and South Korea (9.7%). Imports decreased 5.2% to SAR 75.7 billion, largely due to a sharp drop in transport equipment imports (-34.1%). China also remained the largest source of imports, making up 29.4% of the total, followed by the UAE (7.9%) and the US (7.2%).

Saudi Arabia’s trade surplus widened sharply to SAR 57.4 billion in March 2026 from SAR 18.0 billion in the corresponding month a year earlier. This marked the largest trade surplus since October 2022, as exports surged while imports fell sharply. Exports jumped 21.5% year-on-year to SAR 115.2 billion, driven by a sharp rise in oil exports (37.4%), which accounted for 80.3% of total exports. Non-oil exports, on the other hand, plunged 27.0%, mainly due to lower shipments of chemical products (-39.1%), which represented 20.1% of total non-oil exports. China remained the top destination for Saudi exports, making up 14.1% of total exports, followed by India (13.7%) and Japan (9.5%). Imports declined 24.8% to SAR 57.8 billion, amid reduced imports of machinery, electrical equipment and parts (-11.9%) and chemical products and allied industries (-18.5%). China was also the biggest source of imports, accounting for 26.7% of total imports, followed by the US (8.4%) and the UAE (7.1%).

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%).