Saudi Arabia Records $6.9bn Trade Surplus in May on Stronger Oil Exports

RIYADH — Saudi Arabia’s merchandise trade surplus surged to SR26.03 billion ($6.91 billion) in May, driven by higher oil exports and a sharp decline in imports, according to preliminary government data.

The surplus widened 328.8 percent from a year earlier as merchandise exports rose 3.9 percent year on year to SR93.78 billion, while imports fell 19.5 percent to SR67.75 billion, the General Authority for Statistics reported.

Oil exports climbed 19.5 percent from May 2025 and accounted for 75.6 percent of total exports, up from 65.7 percent a year earlier. Non-oil exports declined 27.3 percent, while re-exports dropped 24.4 percent.

On the import side, machinery, electrical equipment, and parts topped the list, representing 26.4 percent of total imports and declining 28 percent. Mineral products followed at 11.9 percent of imports, recording a 65.7 percent increase compared with May 2025.

China was Saudi Arabia’s largest merchandise export destination, accounting for 12.3 percent of total exports, followed by South Korea at 9.6 percent and the UAE at 7.5 percent. China was also the primary source of imports, supplying 22 percent of the total, ahead of the US at 10.7 percent and Egypt at 8.4 percent.

Jeddah Islamic Sea Port was the leading entry point for goods into Saudi Arabia, accounting for 35.7 percent of total imports, while also serving as the primary outlet for non-oil exports at 24.4 percent.

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