Saudi non-oil exports reach $8.2 billion in May despite drop in oil trade
RIYADH — Saudi Arabia's non-oil exports, including re-exports, rose by 6 percent year-on-year in May 2025 to reach SR31 billion ($8.2 billion), according to data released by the General Authority for Statistics on Thursday.
However, national non-oil exports (excluding re-exports) declined by 1.8 percent, while re-exports surged by 20.5 percent compared to May 2024.
Overall merchandise exports dropped by 14 percent due to a 21.8 percent plunge in oil exports. As a result, the share of oil exports in total exports fell from 72.1 percent in May 2024 to 65.6 percent in May 2025.
Imports, on the other hand, increased by 7.8 percent, leading to a 68.4 percent year-on-year decline in the trade balance surplus.
The ratio of non-oil exports (including re-exports) to imports dropped slightly to 38.5 percent, down from 39.1 percent a year earlier, as imports grew faster than non-oil exports.Electrical machinery, appliances, and parts were the top non-oil exports, accounting for 23.7 percent of the total and nearly doubling from the previous year with a 99.8 percent increase. Chemical products followed, comprising 22.8 percent and growing marginally by 0.4 percent.On the import side, electrical machinery and parts also topped the list, making up 29.7 percent of all imports and rising 23 percent year-on-year. Transport equipment and parts came next, representing 11.4 percent of imports but declining by 9.2 percent.China remained Saudi Arabia's largest export destination, receiving 14 percent of total exports, followed by the UAE (11.2 percent) and India (8.9 percent). Other key markets included South Korea, Japan, the U.S., Egypt, Bahrain, Malta, and Malaysia, which collectively accounted for 64.4 percent of total exports.China was also the Kingdom's top import source at 28.9 percent, trailed by the U.S. (7.5 percent) and the UAE (6.3 percent). India, Japan, Germany, Italy, Switzerland, Egypt, and France rounded out the top 10, contributing a combined 67.6 percent of imports.King Abdulaziz Port in Dammam handled the largest share of incoming goods, accounting for 26.4 percent of imports. It was followed by Jeddah Islamic Port (21.6 percent), King Khalid International Airport in Riyadh (13.8 percent), King Abdulaziz International Airport in Jeddah (10.9 percent), and King Fahd International Airport in Dammam (5.3 percent). Together, these five ports managed 78.1 percent of total merchandise imports.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Saudi Gazette
41 minutes ago
- Saudi Gazette
Saudi budget posts $24.8 billion deficit in H1 2025
Saudi Gazette report RIYADH — Saudi Arabia recorded a budget deficit of SR93.236 billion ($24.8 billion) in the first half of 2025, according to figures released by the Ministry of Finance on Thursday. The Kingdom's total revenues for H1 stood at SR565.210 billion ($150.7 billion), while expenditures reached SR658.446 billion ($175.5 billion). In the second quarter alone, revenues amounted to SR301.595 billion ($80.4 billion) against expenditures of SR336.129 billion ($89.6 billion), resulting in a quarterly deficit of SR34.534 billion ($9.2 billion). Oil revenues in Q2 dropped 29% year-on-year to SR151.7 billion, reflecting pressure from lower global oil prices and possible production cuts. In contrast, non-oil revenues rose 7% year-on-year to SR149.9 billion, underscoring the government's continued push to diversify the Arabia's public debt reached SR1.39 trillion by the end of Q2 2025, according to the ministry's statement.
Saudi Gazette
3 hours ago
- Saudi Gazette
Over 1.2 million Umrah pilgrims arrive in Saudi Arabia since Dhul Hijjah 15
Saudi Gazette report MAKKAH — The Ministry of Hajj and Umrah announced that over 1.2 million Umrah pilgrims have arrived in Saudi Arabia since the start of the current season on Dhul Hijjah 15, with visitors coming from 109 countries around the world. In a statement on Thursday, the ministry revealed a 30% increase in the number of pilgrims entering the Kingdom on Umrah visas compared to the same period last year. There was also a 27% rise in the number of issued Umrah visas. More than 4,200 contracts have been signed between local Umrah companies and international agents, enhancing the operational readiness to serve pilgrims. The season officially began on Dhul Hijjah 14, with visa issuance facilitated through the Nusuk platform, the unified digital gateway for government services for pilgrims and issuance through the platform began on Dhul Hijjah 15, allowing pilgrims to easily book appointments and access services in multiple ministry attributed the strong turnout to the success of this year's Hajj season, noting improvements in operations, technical infrastructure, and service added that preparations for the Umrah season started early in coordination with relevant authorities to ensure smooth procedures, expanded digital content, and continued advancements in hospitality and safety standards for pilgrims.
Saudi Gazette
4 hours ago
- Saudi Gazette
Saudi Arabia's real GDP grows 3.9% in Q2 2025 on broad-based economic expansion
Saudi Gazette report RIYADH — Saudi Arabia's real gross domestic product (GDP) recorded a 3.9% growth in the second quarter of 2025 compared to the same period last year, according to flash estimates released by the General Authority for Statistics (GASTAT). The increase reflects positive growth across all major economic sectors. Non-oil activities posted an annual growth rate of 4.7%, reinforcing the Kingdom's ongoing economic diversification. Meanwhile, oil activities expanded by 3.8%, underlining the continued strength of the energy sector. Government activities grew by a modest 0.6% year-on-year. In terms of contributions to seasonally adjusted real GDP growth, oil activities led with 1.3 percentage points, followed by non-oil activities with 0.9 both government activities and net taxes on products subtracted 0.1 points analyzing contributions to total real GDP growth, non-oil activities emerged as the primary driver, contributing 2.7 percentage activities added 0.9 points, while government activities and net taxes contributed 0.1 and 0.2 points, data highlights the resilience and adaptability of the Saudi economy, which continues to grow from multiple sources with an increasing focus on reducing oil International Monetary Fund recently revised its forecast for Saudi Arabia's economic growth in 2025 and 2026, citing higher expected oil revenues and accelerating non-oil IMF now projects 2025 GDP growth at 3.6%, up 0.6 percentage points from its April estimate. For 2026, growth is expected at 3.9%, up from the earlier forecast of 3.7%.
