Saudi Trade Surplus Soars by 328% in May with Rising Oil Exports

The General Authority for Statistics released the International Trade in Goods Index for Saudi Arabia for May 2026, which showed a 3.9% increase in goods exports, reaching 94 billion riyals compared to the same month in 2025. This was driven by a 19.5% rise in oil exports, with the share of oil exports in total exports increasing to 75.6% from 65.7% in May 2025.

Conversely, non-oil exports, including re-exports, fell by 26.1%, while national non-oil exports excluding re-exports decreased by 27.3%. The value of re-exported goods dropped by 24.4%, partly due to a 32.4% decline in exports of machinery, electrical appliances, and their parts, which account for 46.2% of total re-exports.

On the import side, there was a 19.5% year-on-year decline, bringing the total to 68 billion riyals. This contributed to a 328.8% surge in the trade surplus, which reached 26 billion riyals. The ratio of non-oil exports, including re-exports, to imports fell to 33.8%, compared to 36.8% in May 2025.

Machinery, electrical appliances, and their parts topped the list of major non-oil exports, accounting for 22% of total non-oil exports despite a 31.6% decline. They were followed by plastics and rubber products, which represented 17.6% with a 28.2% decrease.

Regarding imports, machinery, electrical appliances, and their parts ranked first, comprising 26.4% of the total despite a 28% drop. They were followed by mineral products, which saw a significant increase of 65.7% compared to the same period last year.

The data showed that China remains Saudi Arabia's top trading partner, with total trade amounting to 162 billion riyals, accounting for 12.3% of total Saudi exports, followed by South Korea at 9.6% and the United Arab Emirates at 7.5%. China also leads as the top exporter to the Kingdom, accounting for 22% of total imports, followed by the United States at 10.7% and Egypt at 8.4%.

Among customs ports, Jeddah Islamic Port led in imports with 35.7% of the total, followed by King Khalid International Airport in Riyadh at 15.9%, King Abdulaziz International Airport in Jeddah at 11.8%, King Fahd International Airport in Dammam at 5.6%, and Al Batha Port at 4.8%. These five ports collectively accounted for 73.8% of total imports.

As for non-oil exports, Jeddah Islamic Port topped the list with 24.4% of the total, followed by King Khalid International Airport in Riyadh at 13.7%, King Abdulaziz International Airport in Jeddah at 12.7%, Al Batha Port at 9.7%, and Yanbu Commercial Port at 4.7%. These five ports accounted for 65.2% of the Kingdom's total non-oil exports.