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Non-oil contracts rise as trade surplus jumps
Statistics issued by the General Authority for Statistics show that the Kingdom’s commodity exports increased by 3.9% to reach 94 billion riyals in May 2026 compared to the same month of the previous year. This growth was driven by a 19.5% rise in petroleum exports, which accounted for 75.6% of total exports. Meanwhile, non-oil exports, including re-exports, declined by 26.1%, with the value of re-exported goods decreasing by 24.4%—mainly due to a 32.4% drop in exports of machinery and equipment. As for imports, they decreased by 19.5% to 68 billion riyals. The trade balance surplus surged by 328.8% to reach 26 billion riyals. The ratio of non-oil exports to imports fell to 33.8%. China remains the Kingdom’s top trading partner in both exports and imports, accounting for 12.3% of exports and 22% of imports. Jeddah Islamic Port handles 35.7% of imports and 24.4% of non-oil exports.
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