RIYADH: Saudi Arabia’s non-oil exports, including re-exports, rose 14.32 percent annually in February to reach SR26.11 billion ($6.96 billion), according to the latest data from the General Authority for Statistics.
The increase was primarily driven by a 46 percent surge in re-exports, which rose to SR10.05 billion and accounted for a record-high 10.7 percent of total trade — up from 7.2 percent the previous year.
The Kingdom posted a trade surplus of SR30.57 billion ($8.15 billion) in February, the highest value recorded in 10 months and a 4 percent increase during this period.
Despite the uptick in non-oil shipments, total exports declined by 2.65 percent year-on-year to SR93.74 billion, weighed down by an 8 percent drop in oil exports, which stood at SR67.62 billion. Oil retained a dominant 72.1 percent share of total shipments.
The latest trade data underscores Saudi Arabia’s ongoing efforts to diversify its economy under Vision 2030. The fall in oil exports aligns with the Kingdom’s participation in OPEC+ output adjustments aimed at stabilizing prices in global energy markets.
On April 3, eight OPEC+ nations, including Saudi Arabia, reaffirmed their commitment to supporting market balance. The group agreed to phase out 2.2 million barrels per day in voluntary production cuts, starting with a 411,000 bpd increase in May.
This front-loaded adjustment, equivalent to three months of scheduled increments, brings the Kingdom’s required output to 9.2 million bpd. The group will continue to monitor conditions with monthly reviews.
Top trade partners: China and UAE lead
China retained its status as Saudi Arabia’s largest trade partner in February, accounting for 16.18 percent of Saudi exports and 24.14 percent of the Kingdom’s imports.
The bulk of exports to China — around 89 percent— were oil-related, while the remaining 11.3 percent included plastics, rubber, chemicals, and transport equipment.
South Korea ranked second among export destinations, with shipments primarily composed of oil products. The UAE came in third for overall exports but led as the Kingdom’s top non-oil trade partner.
Roughly 85 percent of Saudi exports to the UAE were non-oil goods, and the country received about 30 percent of all non-oil exports during the month.
This strong trade relationship was anchored in the shipment of machinery and mechanical appliances, electrical equipment, and vehicles, as well as aircraft and associated transport equipment.
India and Japan rounded out the top five export destinations. Oil accounted for 81 percent of exports to India and 97 percent to Japan.
Imports into the Kingdom
Saudi imports in February were led by China, which supplied goods worth SR15.25 billion, making up 24.14 percent of the total. The US followed with 7.32 percent, while India accounted for 6.7 percent and the UAE 4.6 percent.
The top categories of imports included machinery and mechanical appliances, electrical equipment and parts, vehicles and transport equipment, base metals and their articles, and products of the chemical industries.
The ratio of non-oil exports to imports rose to 41.3 percent in February— the highest in 2.5 years— reflecting stronger non-oil trade performance and a slowdown in import activity, as total imports fell 5.6 percent to SR63.17 billion, the lowest level in 15 months.
Recent industrial data reinforces the impact of Saudi Arabia’s diversification strategy on trade dynamics.
According to the General Authority for Statistics, non-oil industrial activity rose by 3.2 percent year-on-year in February, supported by a 0.2 percent increase in overall manufacturing.
Within the manufacturing sector, chemical production expanded by 3.5 percent, while food processing jumped by 6.3 percent.
Other infrastructure-related sectors also saw gains, including a 13.1 percent increase in water and waste management services and a 1.1 percent rise in electricity and gas supply.
These trends signal that the Kingdom’s diversification efforts are boosting exports and strengthening internal production capabilities, helping to narrow the trade gap and reduce dependence on imported goods.
GCC trade sees strong rebound
Saudi Arabia recorded an SR4.53 billion trade surplus with GCC countries in February, up from an SR452 million deficit a year earlier. The improvement was largely driven by a 40.6 percent increase in the Kingdom’s trade balance with the UAE.
Much of this momentum stems from the surge in re-exports — goods imported into the Kingdom and then exported without significant transformation.
Re-export growth signals Saudi Arabia’s growing role as a logistics and distribution hub for the wider region, leveraging its expanding infrastructure, customs facilitation, and trade zone development.
The Kingdom’s strategic location at the crossroads of Asia, Africa, and Europe— combined with world-class ports, industrial cities, and bonded logistics zones— has made it increasingly attractive for regional and international supply chain operations.
Initiatives like the National Industrial Development and Logistics Program and Saudi Arabia’s push to be a global logistics center have bolstered this re-export capability.
This shift is further supported by efforts among Gulf states to deepen regional integration, simplify cross-border trade, and promote economic unity.
Enhanced connectivity, customs coordination, and regulatory alignment have improved the movement of goods and services across borders, particularly between the Kingdom and the UAE, which is a key destination and conduit for Saudi re-export flows.
