Saudi Arabia’s Non-Oil Exports Surge in Q1 2025, Reinforcing Economic Diversification Goals

Saudi Arabia’s non-oil exports rose by 13.4 percent year-on-year to SR80.72 billion ($21.52 billion) in the first quarter of 2025, according to preliminary data released by the General Authority for Statistics (GASTAT). The increase highlights the Kingdom’s progress in diversifying its economy in line with Vision 2030.

The data shows that national non-oil exports — excluding re-exports — increased by 9 percent, while re-exported goods jumped 23.7 percent. GASTAT reported that the ratio of non-oil exports (including re-exports) to imports climbed to 36.2 percent from 34.3 percent a year earlier.

“This improvement reflects the significant growth in non-oil exports compared to the 7.3 percent rise in imports over the same period,” GASTAT stated.

Chemical products led non-oil exports, comprising 23.8 percent of the total, followed by plastic and rubber products at 21.9 percent. The Kingdom’s broader economic performance also showed resilience, with GDP growing 2.7 percent in Q1, driven largely by non-oil activity. Minister of Economy and Planning Faisal Al-Ibrahim noted that non-oil sectors contributed 53.2 percent to GDP, a 5.7 percent increase from earlier projections.

Despite the gains in non-oil sectors, total merchandise exports dropped 3.2 percent year-on-year to SR285.78 billion, due to an 8.4 percent fall in oil exports. Oil’s share of total exports decreased from 75.9 percent in Q1 2024 to 71.8 percent this year.

China remained the Kingdom’s top trading partner, receiving SR44.91 billion worth of goods, followed by India (SR28.04 billion), and Japan (SR26.48 billion). South Korea, the UAE, Egypt, and the US also featured prominently among Saudi Arabia’s top export destinations.

On the import side, Saudi Arabia brought in SR222.73 billion worth of goods, up 7.3 percent from a year earlier. Electrical machinery led the list of imports, accounting for 26.6 percent, followed by transport equipment at 14.6 percent. The trade surplus, however, narrowed by 28 percent over the same period.

King Abdulaziz Sea Port in Dammam remained the Kingdom’s busiest entry point, handling 26.9 percent of all imports, followed by Jeddah Islamic Port and major airports in Riyadh and Jeddah.

In March alone, non-oil exports grew 10.7 percent year-on-year to SR27.03 billion, while overall merchandise exports dropped 9.8 percent due to a continued slump in oil shipments. Non-oil exports’ share of imports rose to 36.5 percent, up from 33 percent in March 2024.

These figures underscore Saudi Arabia’s steady transition toward a more diversified and resilient economy, even as oil revenues continue to play a significant role.