Saudi Arabia’s non-oil exports increased by 19% in July 2024 compared to the same month in 2023, reaching SAR 25.4 billion. National non-oil exports, excluding re-exports, grew by 6.5%, while the value of re-exported goods surged by 78.4%, according to the General Authority for Statistics​.
Despite a 3.1% decline in oil exports, overall merchandise exports saw a 2% year-on-year increase, with oil exports’ share of total exports falling from 77% in July 2023 to 73.1% in July 2024. Imports rose by 12.6%, while the trade surplus decreased by 25.4%.
In terms of product categories, chemical products led the non-oil exports, accounting for 25.8% of the total, marking a 1.3% increase from the previous year. Plastics, rubber and related products followed closely, representing 25.6% of non-oil exports with a 6.5% increase​.
Machinery, electrical equipment and parts were the largest import categories, constituting 26.5% of total imports, a 34.2% rise from the previous year. Transportation equipment and parts made up 14.6% of imports, with a 3.3% increase​.
China remained Saudi Arabia’s top trade partner, receiving 13.9% of the Kingdom’s total merchandise exports, followed by South Korea and Japan. China also led imports into Saudi Arabia, accounting for 25.4% of total imports, followed by the US and Germany​.
Saudi ports played a critical role in handling imports, with King Abdulaziz Sea Port in Dammam managing 30.3% of total imports in July 2024. Other major ports included Jeddah Islamic Sea Port and King Khalid International Airport​.
