Saudi Non-Oil Exports Climb 6% to $8.29 Billion: GASTAT
The Kingdom's non-oil exports, including re-exports, reached $8.29 billion in May, marking a 6% increase compared to the same month in 2024.
Riyadh: Saudi Arabia's non-oil exports, including re-exports, reached SR31.11 billion ($8.29 billion) in May, marking a 6 percent increase compared to the same month in 2024, official data showed.
Preliminary figures released by the General Authority for Statistics showed that the UAE remained the top destination for the Kingdom’s non-oil products, with exports to the Emirates amounting to SR9.54 billion in May.
India was the second-largest non-oil trade partner, importing goods worth SR2.78 billion, followed by China at SR2.03 billion, Bahrain at SR989.1 million, and Turkiye at SR924.7 million.
The rise in non-oil exports supports the goals of Vision 2030, which aims to diversify Saudi Arabia’s economy and reduce its reliance on oil revenues.
In its latest report, GASTAT stated: “Non-oil exports in May, including re-exports, recorded an increase of 6 percent compared to May 2024, while national non-oil exports, excluding re-exports, decreased by 1.8 percent.”
It added: “Moreover, the value of re-exported goods increased by 20.5 percent during the same period.”
In a separate release in May, GASTAT noted that the Kingdom’s gross domestic product grew by 2.7 percent year on year in the first quarter, driven by robust non-oil activity.
Commenting on the GDP figures at the time, Minister of Economy and Planning Faisal Al-Ibrahim — who also chairs GASTAT’s board — highlighted that the contribution of non-oil activities to the Kingdom’s economic output reached 53.2 percent, a 5.7 percent increase over previous estimates.
He added that the country’s economic outlook remains strong, buoyed by structural reforms and high-quality, state-led projects across various sectors.
Among seaports, the King Fahad Industrial Port in Jubail handled the highest volume of outbound non-oil goods, valued at SR3.52 billion, followed closely by the Jeddah Islamic Sea Port at SR3.35 billion.
Ras Al Khair and Jubail Sea Ports facilitated non-oil exports worth SR2.37 billion and SR2.36 billion, respectively.
On land, the Al-Batha Port processed non-oil exports worth SR2.18 billion.
Al-Hadithah and Al-Wadiah ports recorded outbound shipments of SR864.4 million and SR460.2 million, respectively.
King Abdulaziz International Airport led all air terminals, handling SR4.22 billion in non-oil exports in May — a 258 percent increase compared to the same month last year.
Among the most important non-oil exports are machinery, electrical equipment and parts, which constituted 23.7 percent of the total non-oil exports, recording a 99.8 percent increase compared to May 2024,” GASTAT noted.
Chemical products came in second, accounting for 22.8 percent of total non-oil exports and growing 0.4 percent year on year.
The strength of Saudi Arabia’s non-oil private sector was further affirmed by Riyad Bank’s Purchasing Managers' Index, compiled by S&P Global, which showed that the Kingdom’s headline PMI rose to 57.2 in June, up from 55.8 in May. This reading indicates a strong improvement in business conditions, exceeding the long-run average of 56.9.
A PMI score above 50 signals expansion, while a figure below that mark indicates contraction.
Saudi Arabia’s June PMI also outpaced that of its regional peers, with the UAE and Kuwait recording 53.5 and 53.1, respectively.
Preliminary figures released by the General Authority for Statistics showed that the UAE remained the top destination for the Kingdom’s non-oil products, with exports to the Emirates amounting to SR9.54 billion in May.
India was the second-largest non-oil trade partner, importing goods worth SR2.78 billion, followed by China at SR2.03 billion, Bahrain at SR989.1 million, and Turkiye at SR924.7 million.
The rise in non-oil exports supports the goals of Vision 2030, which aims to diversify Saudi Arabia’s economy and reduce its reliance on oil revenues.
In its latest report, GASTAT stated: “Non-oil exports in May, including re-exports, recorded an increase of 6 percent compared to May 2024, while national non-oil exports, excluding re-exports, decreased by 1.8 percent.”
It added: “Moreover, the value of re-exported goods increased by 20.5 percent during the same period.”
In a separate release in May, GASTAT noted that the Kingdom’s gross domestic product grew by 2.7 percent year on year in the first quarter, driven by robust non-oil activity.
Commenting on the GDP figures at the time, Minister of Economy and Planning Faisal Al-Ibrahim — who also chairs GASTAT’s board — highlighted that the contribution of non-oil activities to the Kingdom’s economic output reached 53.2 percent, a 5.7 percent increase over previous estimates.
He added that the country’s economic outlook remains strong, buoyed by structural reforms and high-quality, state-led projects across various sectors.
Among seaports, the King Fahad Industrial Port in Jubail handled the highest volume of outbound non-oil goods, valued at SR3.52 billion, followed closely by the Jeddah Islamic Sea Port at SR3.35 billion.
Ras Al Khair and Jubail Sea Ports facilitated non-oil exports worth SR2.37 billion and SR2.36 billion, respectively.
On land, the Al-Batha Port processed non-oil exports worth SR2.18 billion.
Al-Hadithah and Al-Wadiah ports recorded outbound shipments of SR864.4 million and SR460.2 million, respectively.
King Abdulaziz International Airport led all air terminals, handling SR4.22 billion in non-oil exports in May — a 258 percent increase compared to the same month last year.
Among the most important non-oil exports are machinery, electrical equipment and parts, which constituted 23.7 percent of the total non-oil exports, recording a 99.8 percent increase compared to May 2024,” GASTAT noted.
Chemical products came in second, accounting for 22.8 percent of total non-oil exports and growing 0.4 percent year on year.
The strength of Saudi Arabia’s non-oil private sector was further affirmed by Riyad Bank’s Purchasing Managers' Index, compiled by S&P Global, which showed that the Kingdom’s headline PMI rose to 57.2 in June, up from 55.8 in May. This reading indicates a strong improvement in business conditions, exceeding the long-run average of 56.9.
A PMI score above 50 signals expansion, while a figure below that mark indicates contraction.
Saudi Arabia’s June PMI also outpaced that of its regional peers, with the UAE and Kuwait recording 53.5 and 53.1, respectively.
