Saudi Arabia’s Non-Oil Exports Surge in October, Underscoring Diversification Drive
Kingdom records a sharp year-on-year rise in non-oil shipments, highlighting momentum beyond hydrocarbons
Saudi Arabia’s non-oil exports recorded a strong increase in October, rising by thirty-two point three per cent compared with the same month a year earlier, according to the latest official trade data.
The expansion highlights continued progress in the Kingdom’s strategy to diversify its economy and strengthen export capacity beyond crude oil and related fuels.
The rise was driven primarily by higher shipments of petrochemicals, plastics, rubber products and manufactured goods, alongside a notable increase in re-exports.
Analysts say the figures reflect improving global demand for Saudi industrial products and the impact of sustained investment in downstream manufacturing, logistics and trade facilitation.
Non-oil exports have become an increasingly important pillar of the Kingdom’s external trade profile as new industrial zones and export-oriented industries come online.
By contrast, oil exports declined on an annual basis during the same period, reflecting production adjustments and global market conditions.
As a result, non-oil goods accounted for a larger share of total exports in October, reinforcing the government’s emphasis on reducing reliance on hydrocarbons and broadening sources of foreign revenue.
Officials have consistently pointed to non-oil trade growth as a key indicator of the success of economic reforms under Vision 2030. The October figures add to a series of recent data releases showing sustained expansion in manufacturing, logistics and non-energy trade, even as global economic conditions remain mixed.
Policymakers say continued support for exporters, infrastructure investment and trade partnerships will remain central to maintaining this momentum in the months ahead.