Saudi Arabia Trade Surplus Smallest in 5 Months

Saudi Arabia’s trade surplus narrowed to SAR 14.4 billion in July 2026 from SAR 19.1 billion in the same month last year, marking the smallest trade surplus since January as exports dropped more than imports. Exports fell 17.2% year-on-year to an over five-year low of SAR 84.4 billion, mainly driven by a 12.8% fall in oil exports, which represented 71.0% of total exports. Meanwhile, non-oil exports shed 14.8% amid a decline in shipments of plastic, rubber, and their articles (-17.8%), which accounted for 19.8% of total non-oil exports. China was the leading destination for Saudi exports, accounting for 13.4% of the total, followed by the UAE (10.0%) and Japan (8.7%). Imports fell 15.4% to a near two-year low of SAR 70.4 billion, largely due to a sharp decline in machinery, electrical equipment, and parts thereof (-26.6%). China remained the largest source of imports, making up 22.7% of the total, followed by the US (8.4%) and Switzerland (6.9%).

Saudi Arabia’s trade surplus narrowed to SAR 17.3 billion in June 2026 from SAR 19.2 billion in the same month last year, marking the smallest trade surplus since January as exports fell more than imports. Exports dropped 4.5% year-on-year to a five-year low of SAR 87.8 billion, mainly driven by a 2.3% fall in oil exports, which represented 72.0% of total exports. Meanwhile, non-oil exports fell 11.4% amid a decline in shipments of plastic, rubber, and their articles (-12.8%), which accounted for 20.7% of total non-oil exports. Japan was the leading destination for Saudi exports, accounting for 13.2% of the total, followed by South Korea (11.5%) and China (9.4%). Imports dropped 3.0% to a three-month low of SAR 70.4 billion, largely due to a sharp decline in machinery, electrical equipment, and parts (-20.4%). China remained the largest source of imports, making up 22.0% of the total, followed by Switzerland (8.4%) and the US (8.3%).

Saudi Arabia’s trade surplus surged to SAR 26.0 billion in May 2026 from SAR 6.1 billion in the same month last year, as exports rose while imports slumped. Exports grew 3.9% year-on-year to SAR 93.8 billion, mainly driven by a 19.5% rise in oil exports, which represented 75.6% of total exports. Meanwhile, non-oil exports dropped 27.3% amid a decline in shipments of electrical equipment and parts (-31.6%), which accounted for 22.0% of total non-oil exports. China remained the leading destination for Saudi exports, accounting for 12.3% of the total, followed by South Korea (9.6%) and the UAE (7.5%). Imports slumped 19.5% to SAR 67.8 billion, largely due to a sharp decline in machinery, electrical equipment, and parts (-28.0%). China also remained the largest source of imports, making up 22.0% of the total, followed by the US (10.7%) and Egypt (8.4%).