Saudi Arabia’s international non-oil exports, including re-exports, rose by 10.7% year-on-year in January. This data, released by the General Authority for Statistics (GASTAT), highlights significant economic growth. National non-oil exports, excluding re-exports, increased by 13.1% during the same period. Additionally, re-exported goods saw a 5.7% year-on-year growth.
Aligning with Vision 2030
This growth aligns with Saudi Arabia’s Vision 2030. The goal is to build a robust non-oil sector, transforming the Kingdom’s economy and reducing oil revenue reliance. In November, Minister of Economy and Planning Faisal Al-Ibrahim announced that non-oil activities now account for 52% of the country’s GDP.
Meanwhile, merchandise exports increased by 2.4% in January 2025 compared to January 2024. Oil exports decreased by 0.4%. Consequently, the percentage of oil exports out of total exports decreased from 74.8% in January 2024 to 72.7% in January 2025.
Imports increased by 8.3% in January 2025. However, the surplus of the merchandise trade balance decreased by 11.9% compared to January 2024.
The ratio of non-oil exports, including re-exports, to imports increased to 36.5% in January 2025 from 35.7% in January 2024. This rise in non-oil exports outpaced the increase in imports. Non-oil exports increased by 10.7%, while imports surged by 8.3%.
Key Non-Oil Exports and Imports
Among the most important non-oil exports are chemical products, constituting 23.7% of total non-oil exports, with a 14.4% increase. Plastics, rubber, and their products followed, representing 23% of total non-oil exports, with a 10.5% increase.
The most important imported goods were machinery, electrical equipment, and parts, constituting 25.9% of total imports, rising by 27.4%. Transportation equipment and parts followed, representing 13.8% of total imports, with a 10.3% increase.
Top Export Destinations
In January, China was the main destination for the Kingdom’s exports, amounting to 15.2% of the total. India followed with 10.9%, and Japan with 10.2%. South Korea, the UAE, Egypt, Bahrain, the US, Malaysia, and Singapore were among the top 10 export destinations, accounting for 67.5% of total exports.
The King Abdulaziz Sea Port in Dammam is a significant terminal for imports, accounting for 28.8% of total imports in January. Other major ports include Jeddah Islamic Sea Port with 23.1%, King Khalid International Airport in Riyadh with 12.4%, King Abdulaziz International Airport with 8.6%, and King Fahad International Airport in Dammam with 5.5%. Together, these five ports accounted for 78.4% of the Kingdom’s total merchandise.
