Saudi Arabia’s non-oil exports, including re-exports, reached SR33.71 billion ($8.99 billion) in July, marking a remarkable 30.4% increase compared to the same month last year. This growth reflects the Kingdom’s ongoing efforts to diversify its economy under the Vision 2030 initiative.
The General Authority for Statistics (GASTAT) reported that the UAE emerged as the top destination for Saudi non-oil products, with shipments totaling SR10 billion. India followed, receiving goods worth SR3.48 billion, while China and Turkiye received SR1.99 billion and SR1.95 billion, respectively.
Key Export Categories and Destinations
Machinery and electrical equipment led the export categories, accounting for 29.7% of non-oil shipments and experiencing a significant 191.1% year-on-year increase. Chemical products followed, holding a 19.6% share and increasing by 0.9% from July 2024.
Other notable destinations included Belgium (SR929.1 million), Qatar (SR778.6 million), and Switzerland (SR776.1 million). Exports to Kuwait reached SR711.6 million, while Jordan and Bahrain received SR678.2 million and SR656 million, respectively.
Economic Outlook and Future Prospects
Economy and Planning Minister Faisal Al-Ibrahim highlighted that non-oil activities contributed 53.2% to GDP, a 5.7% increase from previous estimates. He expressed confidence in the Kingdom’s economic outlook, supported by structural reforms and large-scale projects.
In August, S&P Global reported that Saudi Arabia’s Purchasing Managers’ Index rose to 56.4, indicating continued growth in the non-oil sector. The Kingdom outperformed regional peers, with the UAE and Kuwait posting PMIs of 53.3 and 53, respectively.
Overall, Saudi Arabia’s merchandise exports totaled SR102.38 billion in July, reflecting a 7.8% increase compared to the same month in 2024. Despite a 0.7% decline in oil exports, the Kingdom’s focus on non-oil sectors continues to drive economic growth and diversification.
