According to recent statistics, Saudi Arabia experienced a significant 17.8% growth in its non-oil exports during the second quarter of 2025, highlighting an increase in both national and re-export activities.
This growth included an impressive 46.2% rise in re-exports, while national non-oil exports (excluding re-exports) saw a more modest increase of 5.6%, as reported by the General Authority for Statistics of Saudi Arabia.
The non-oil export to import ratio, encompassing re-exports, improved to 37.3% in the second quarter, up from 35.8% during the same period in 2024.
This positive change was fueled by the 17.8% increase in non-oil exports, which surpassed the 13.1% rise in imports for that timeframe.
In contrast, oil exports experienced a 15.8% decline in Q2, resulting in a 7.3% year-on-year reduction in total merchandise exports. This decline, coupled with the increased imports, led to a 56.2% decrease in the merchandise trade balance surplus compared to the same quarter in 2024.
The contribution of oil to the country’s overall exports dropped from 74.7% to 67.9%, indicating a gradual diversification of the export portfolio.
Chemicals and machinery emerged as the leading categories for non-oil exports and imports, respectively, with China maintaining its status as the primary trading partner in Q2 2025.
Positive Outlook for Non-Oil Exports in June
Additionally, June’s data revealed an encouraging trend, with non-oil exports climbing by 22.1%, while imports saw a modest rise of 1.7%. This resulted in a 10.6% year-on-year improvement in the trade balance surplus.
Despite a 2.5% decline in oil exports, the robust growth in non-oil sectors was enough to keep the overall merchandise exports in a positive trajectory, increasing by 3.7%.
The share of oil in exports further decreased in June, falling from 74.7% in June 2024 to 70.2%.