SAUDI Arabia’s non-oil exports saw an annual rise of 24.6 per cent in April, reaching 28.36 billion riyals ($7.56bn) thanks to a sharp increase in re-exports and a strong performance in chemicals and plastics, reports Arab News.
According to data released by the General Authority for Statistics (GASTAT), national non-oil exports – excluding re-exports – grew 6.8pc during the month, while the value of re-exported goods increased 72pc.
Saudi Arabia’s non-oil exports hit a record 515bn riyals ($137bn) in 2024, up 13pc from 2023 and over 113pc since the launch of Vision 2030 in 2016, which aims to diversify the kingdom’s economy and reduce its dependence on oil by expanding industrial, mining, and service sectors.
The strong non-oil export performance comes as the World Bank projects Gulf economic growth to accelerate to 3.2pc in 2025 and 4.5pc in 2026, driven by the rollback of Opec+ oil production cuts and continued momentum in non-oil sectors.
In its latest release, GASTAT stated: “Among the most important non-oil exports are plastics, rubber, and their products, which constituted 21.7pc of total non-oil exports, recording a 4.0pc increase compared to April 2024.” It added that chemical products followed at 21pc of the total, with a 2.3pc year-on-year increase.
The release stated that merchandise exports decreased by 10.9pc in April compared to the same month of the previous year, as a result of a 21.2pc decrease in oil exports.
“Consequently, the percentage of oil exports out of total exports decreased from 77.5pc in April 2024 to 68.6pc in April 2025,” said the report.
This led to a narrowing of the trade surplus by 61.7pc compared to the same period last year
The ratio of non-oil exports, including re-exports, to imports rose to 37.2pc in April, up from 35.4pc a year earlier – largely due to the increases in non-oil exports and imports of 24.6pc and 18.3pc, respectively.
On the import side, machinery, electrical equipment, and parts accounted for 27.7pc of total imports, rising 25.4pc year on year. Transportation equipment and parts followed at 17.2pc, with a 64.5pc surge.
China remained Saudi Arabia’s top export destination, accounting for 12.6pc of the total in April. Japan ranked second at 10.1pc, followed by the UAE at 9.8pc.
Other key destinations included India, South Korea, and the US, as well as Egypt, Malta, Poland, and Bahrain – with exports to these 10 markets comprising 67.5pc of total exports.
On the import front, China was also the top origin, representing 25pc of the total, followed by the US at 7.5pc and the UAE at 6.8pc.
Imports from India, Germany, and Japan, as well as Italy, Switzerland, the UK, and France, together made up 66.3pc of the total.
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