RIYADH: Saudi Arabia’s Export-Import Bank grew its credit facilities to non-oil exporters by 17.2 percent in the first half of 2026, reaching SR27.67 billion ($7.3 billion), as it deepens support for the Kingdom’s export diversification drive.
According to the Saudi Press Agency, the facilities were split between export financing and export credit insurance for non-oil Saudi products and services, with the total up from the SR23.61 billion available over the same period of 2025.
The figures comes even as the Kingdom’s latest non-oil trade figures show a pullback. The latest data from the General Authority for Statistics showed a 26.1 percent yearly decrease in non-oil exports in May, including re-exports, with national non-oil exports excluding re-exports down 27.3 percent.
“The growth achieved by the bank in credit facilities during the first half of 2026 reflects the effectiveness of its strategy and its continued efforts to achieve economic and developmental targets,” said Saad bin Abdulaziz Al-Khalb, CEO of Saudi EXIM.
Financing dips while insurance surges
Export financing disbursements totaled SR8.20 billion in the six months to the end of June, a slight decline from SR8.87 billion over the same period last year.
By contrast, export credit insurance coverage climbed sharply, with total insured export values reaching SR19.47 billion over the first half of the year, an annual rise of 32.09 percent.
A pivotal role in market expansion
Al-Khalb said the results underline the bank’s central role in helping Saudi non-oil exporters expand into global markets, through integrated credit solutions that ensure sustainability and manage risk efficiently.
He added that the bank will continue pursuing its strategic goals and national targets, citing the ongoing support of the Kingdom’s leadership as a key enabler of its mission.
GASTAT’s February bulletin also pointed to a broader trade rebalancing. Re-exported goods increased by 28.5 percent, driven largely by a 59.9 percent rise in exports of machinery, electrical equipment, and their parts.
