Saudi Arabia’s Non-Oil Exports Surge 30% in July as Diversification Push Gains Momentum

Saudi Arabia’s non-oil exports, including re-exports, climbed to SR33.71 billion ($8.99 billion) in July, recording a 30.4 percent increase compared with the same month last year, according to data released by the General Authority for Statistics (GASTAT).

The United Arab Emirates emerged as the largest destination for Saudi non-oil goods, receiving SR10 billion worth of shipments. India followed with imports valued at SR3.48 billion, while China ranked third at SR1.99 billion. Other key destinations included Turkiye at SR1.95 billion, the United Kingdom at SR1.25 billion, and Egypt at SR992.4 million.

The robust growth underscores the Kingdom’s progress under its Vision 2030 strategy, which aims to diversify the economy and reduce reliance on oil. GASTAT noted that while national non-oil exports, excluding re-exports, rose by just 0.6 percent year on year, re-exports more than doubled, surging 111.3 percent.

Machinery and electrical equipment dominated the export basket, accounting for nearly 30 percent of non-oil shipments. This category saw an extraordinary 191.1 percent year-on-year increase. Chemical products followed with a 19.6 percent share, up slightly from July 2024.

Export performance was supported by the Kingdom’s trade infrastructure. Jeddah Islamic Sea Port processed SR3.63 billion in non-oil goods, followed by King Fahad Industrial Sea Port at SR3.37 billion and King Abdulaziz Sea Port in Dammam at SR2.44 billion. Airports also played a vital role, with King Abdulaziz International Airport handling shipments worth SR6.63 billion and King Khalid International Airport managing SR4.78 billion.

Overall merchandise exports reached SR102.38 billion in July, up 7.8 percent from a year earlier. However, oil exports declined by 0.7 percent, reducing oil’s share of total exports from 72.8 percent in July 2024 to 67.1 percent this year. China remained the top overall export destination, receiving SR14.33 billion in goods, followed by the UAE at SR10.85 billion and India at SR9.66 billion.

On the import side, Saudi Arabia recorded a 2.5 percent year-on-year decline, with inbound shipments totaling SR75.52 billion. Machinery, mechanical and electrical equipment led imports at SR22.59 billion, while transport parts and base metals followed at SR9.97 billion and SR7.11 billion, respectively. China was the Kingdom’s leading supplier, with exports to Saudi Arabia valued at SR19.47 billion, followed by the United States at SR6.04 billion and the UAE at SR4.82 billion.

The merchandise trade balance recorded a surplus, rising by 53.4 percent compared with July 2024, reflecting the strong performance of the non-oil sector and the continued benefits of structural reforms.

Analysts say the July figures highlight growing resilience in the Kingdom’s trade structure, with non-oil sectors increasingly contributing to economic growth. The diversification drive, bolstered by infrastructure expansion and global partnerships, is expected to play a central role in sustaining momentum amid fluctuating oil markets.