The General Authority for Statistics (GASTAT) released the June and second quarter 2025 International Merchandise Trade data, confirming strong gains in non‑oil exports, particularly re‑exports. June non‑oil exports, including re‑exports, rose 22.1% from the same month last year. Excluding re‑exports, national non‑oil exports climbed 8.4%, while re‑exports surged 60.2%. Total commodity exports edged up 3.7% despite a 2.5% fall in petroleum exports. As a result, oil’s share of total exports dropped to 70.2% from 74.7% a year earlier. The merchandise trade surplus rose by 10.6% in June. Chemical products led non‑oil exports, while machinery and electrical equipment topped imports. China remained the biggest trading partner.
Saudi non-oil exports
In the second quarter, non‑oil exports maintained momentum with a 17.8% rise, driven by a 5.6% increase in non‑oil national exports and a 46.2% jump in re‑exports. Total commodity exports fell 7.3% year‑on‑year, weighed down by a 15.8% decline in petroleum exports, reducing oil’s share to 67.9%. The trade surplus plunged 56.2%. The ratio of non‑oil exports to imports improved to 37.3%. Chemical products and machinery retained leading non‑oil export/import positions, and China remained the top partner.
These figures reinforce early‑year non‑oil export trends. In Q1, non‑oil exports rose 13.4% overall and 10.7% in March alone. The trade surplus fell 28% in Q1, and the non‑oil exports‑to‑imports ratio rose to 36.2%.
GASTAT data coincide with broader economic shifts. In Q2, non‑oil government revenues grew 7% to SAR 149.9 billion, pushing non‑oil income close to half of total government revenue.
The strong performance in non-oil exports underlines the impact of Vision 2030 policies focused on industrialisation, diversification, and logistics expansion. In June, manufacturing output rose, as reflected by a 7.9% jump in the Industrial Production Index, with non‑oil sector activity up 8.6%.
Saudi exporters now have a broader base than petroleum alone, but the drop in oil exports has exposed the kingdom to global oil demand shifts. The Q2 data highlight the urgency of accelerating diversification to stabilise trade balances.
