Saudi trade surplus shrinks amid drop in exports

Saudi commodity trade experienced a decline in June due to a drop in oil exports and weak non-oil exports, amid energy market disruptions and regional geopolitical tensions. The total exports amounted to 87.8 billion SAR, down 4.5% year-on-year, while imports decreased by 3% to 70 billion SAR, resulting in a 10% decline in the trade surplus to reach 17.3 billion SAR. In the second quarter, oil exports increased by 9.1% to 203.4 billion SAR, contributing to a 4.1% rise in total merchandise exports to approximately 286 billion SAR, despite significant declines in non-oil exports. Although oil exports declined in June, they still account for 72% of total exports and remain the main driver of the trade balance, with only limited impact from maritime disruptions and regional geopolitical tensions. Partial stability has been maintained thanks to alternative routes such as Jeddah Port and the East-West pipeline.

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