Saudi Arabia’s trade surplus grew by 30% in October 2024, reaching SAR 20.76 billion, up from SAR 15.99 billion in September, according to the Kingdom’s latest global trade bulletin.
The Kingdom’s total international trade volume rose to SAR 164.79 billion in October, a 2% increase from SAR 162.20 billion the previous month. Merchandise exports contributed SAR 92.78 billion, while imports accounted for SAR 72.01 billion.
Non-oil exports amounted to SAR 19.41 billion, representing 21% of total exports. Oil exports totalled SAR 67.39 billion, making up 72.6%, and re-exports reached SAR 5.96 billion, comprising 6.4%.
Export destinations
Asian countries (excluding Arab and Islamic nations) remained the top destination for Saudi exports, receiving 52.2% of total exports valued at SAR 48.40 billion. The Gulf Cooperation Council (GCC) countries ranked second with 13.1% (SAR 12.15 billion), followed by the European Union at 13% (SAR 12.07 billion).
China was the largest individual export destination, accounting for 16.1% of total exports. India followed with SAR 8.79 billion (9.5%), and Japan ranked third with SAR 8.70 billion (9.4%).
Port activity
Non-oil exports, including re-exports, were processed through 33 customs ports via sea, land, and air routes, with a total value of SAR 25.38 billion. King Fahd Industrial Port in Jubail handled SAR 3.77 billion in exports, representing 15% of the total, making it the leading transportation hub by value.
